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Certain § 501(c)(3) Exempt Organizations Are Permitted to Engage in Lobbying

question 22

True/False

Certain § 501(c)(3) exempt organizations are permitted to engage in lobbying activities on an elective, limited basis.
Churches are allowed to make this election.


Definitions:

IRS Method

Techniques and guidelines set by the Internal Revenue Service for calculating and filing taxes.

Depreciation

The method of allocating the cost of a tangible or physical asset over its useful life.

Royalties

Payments made to owners of intellectual property, like patents or copyrights, in exchange for usage rights.

Form 1099-MISC

A document used to report miscellaneous income such as payments made to independent contractors, rent, or awards.

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