Word: exempt
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...director of the Christian Coalition to take a more direct hand in politics. Reed said Wednesday he will step down in September to form a political consulting firm called Century Strategies. For the highly ambitious Reed, the move frees him from the limitations imposed by the Coalition's tax-exempt status. As a religious organization, the group is prohibited from directly endorsing candidates, or having official ties to a political party, a line that Reed has closely skirted in the past. TIME's Laurence Barrett notes that Reed, who built up Pat Robertson's moribund operation into a 1.6 million...
...hereafter which are rank heresy to followers of the orthodox faiths." By that definition, just about anything goes. In the Encyclopedia of American Religions, J. Gordon Melton lists more than 2,100 religions. Herewith, a few of the more unorthodox ones--all of which, by the way, are tax exempt...
...Dartboard was taken aback. Not only did recently re-elected Speaker of the House Newt Gingrich, one of the ring leaders of the "keep campaign finance clean" cabal, get smacked with a fine of $300,000 and a reprimand imposed on him for ethics violations because he used tax-exempt funds to fund his own party, but also, he is now considering avoiding personal payment (and responsibility) by paying for that fine through the use of a legal defense fund...
...small city, the IRS is the second largest federal agency, after the Pentagon. It handles in excess of 200 million returns a year and sorts 1.2 billion pieces of information from 1,200 financial institutions. It reviews 60,000 employee-compensation plans and checks 90,000 tax-exempt organizations...
...instance, a Biology concentrator would be required to take a class from the Foreign Cultures, History, Literature, Art/Music, Moral Reasoning and Social Analysis selections. The seventh Core course could be taken in either History or Literature. Biology concentrators would be exempt from the Physical Science, Life Science and Quantitative Reasoning requirements...