April 2020
Intermediate to advanced
944 pages
33h 53m
English
Content preview from Tax Planning and Compliance for Tax-Exempt Organizations, 6th Edition
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CHAPTER 7Labor, Agricultural, and Horticultural Organizations: §501(c)(5)
Internal Revenue Code (IRC) §501(c)(5) encompasses three specific kinds of organizations: labor unions, agricultural groups, and horticultural groups. These groups are distinguishable from those classified as business leagues partly because their members may represent a range of pursuits rather than a narrow “line of business” as required under (c)(6). An organization qualifying under this category may now allow its net earnings to inure to the private benefit of any member, although a labor union can provide some individual benefits.1 Comparatively, the inurement provision applied to (c)(3) and (c)(4) organizations applies to those who are in a position to control the organization.2 On a positive note, the intermediate sanction penalties are not imposed on members of a (c)(5) organization that receive impermissible benefits.3 These worker-oriented groups may serve only the three purposes provided in regulations that have not been revised since 1958:
- Betterment of conditions of those engaged in such pursuit.
- Improvement of the grade of their products.
- Development of a high degree of efficiency in ...
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