On December 20,2017,the Directors of Quail Corporation (An Accrual Basis,calendar

question 66

True/False

On December 20,2017,the directors of Quail Corporation (an accrual basis,calendar year taxpayer) authorized a cash donation of $5,000 to the American Cancer Society,a qualified charity.The payment,which is made on April 11,2018,may be claimed as a deduction for tax year 2017.

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Definitions:

Hatch Act

A U.S. federal law enacted in 1939 that restricts the political activities of federal employees to ensure a nonpartisan federal workforce.

Political Campaigns

Organized efforts to influence the decision-making process within a specific group, often related to elections.

Federal Employees

Workers who are employed by the federal government of a country, undertaking tasks and responsibilities dictated by governmental agencies.

Independent Regulatory Agency

A federal agency created to enforce and regulate laws in specific sectors, operating independently from the executive branch.