Reader: Can you explain: “UT Is an IRS 170(C) organization [not a 501(c)(3)] All 501(c)(3) organizations are non-profits, but not all non-profits are 501(c)(3). UT is a non-profit, and it is a 170(c).”
https://procurement.tennessee.edu/basic-facts-about-the-university/
ChatGPT
It seems there might be a misunderstanding in the statement you provided. Let me clarify the key points:
- UT Is an IRS 170(C) organization [not a 501(c)(3)]:
- The accurate reference is typically to section 501(c)(3) of the Internal Revenue Code, not 170(C).
- If UT (presumably referring to a university or organization) is described as an “IRS 170(C) organization,” it likely means that it qualifies for deductions for charitable contributions under section 170(c) of the Internal Revenue Code. However, this does not preclude it from being a 501(c)(3) organization.
- All 501(c)(3) organizations are non-profits, but not all non-profits are 501(c)(3):
- This statement is accurate. 501(c)(3) organizations are a specific type of non-profit organization that is eligible for tax-exempt status, and they must meet certain criteria outlined in section 501(c)(3) of the Internal Revenue Code.
- UT is a non-profit, and it is a 170(c):
- If UT is a non-profit organization, it may indeed qualify for deductions for charitable contributions under section 170(c). However, this does not provide a complete picture of its tax-exempt status. It’s possible for an organization to be both a non-profit and a 501(c)(3) organization, and being a 501(c)(3) organization provides additional benefits, such as exemption from federal income tax.
In summary, it would be helpful to clarify whether UT is solely described as a 170(c) organization or if it also holds 501(c)(3) status. The two designations are not mutually exclusive, and many 501(c)(3) organizations also fall under the category of organizations eligible for deductions under section 170(c).
Did you realize the tax code is intentionally confusing. How is one to be a law abiding citizen, when the laws are intentionally confusing? (Not to mention there are so many laws and so many pages of laws, current US law is beyond the comprehension of the average person.)
“Those additional crimes reside in a different (and much longer) set of books than the US Code—the similarly titled US Code of Federal Regulations. That document runs to 175,000 pages, and the number of crimes it contains is unknown.” https://www.mercatus.org/research/policy-briefs/counting-the-code-congress-criminal-laws
Is this real?
Beau Baez
Law Professor Author has 3.2K answers and 3.1M answer views:
“Thousands of pages of law are created every day. This means it is impossible for anyone to read all the laws in the USA. Even if you specialized, say for example in tax law, you would be unable to read all of the law in that specialized area.”
Are the student loan documents signed by minors, intentionally confusing?