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Accounting Question:

EarthFriendly, Inc., an IRC Sec. 501(c)(3) organization, incurred lobbying expenses of $150,000 and exempt purpose expenditures of $1.2 million in carrying out its exempt mission. What are the tax consequences if the organization participates in lobbying activities?

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Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M92082611
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