Starting immediately all 501 3 will pay tax and all loopholes will be eliminated.
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Covered by Section 501(c) of the United States Internal Revenue Code, nonprofits, in general, are called 501(c) organizations. Under that code, 27 types of nonprofits receive some exemption from federal income taxes. The most common type of nonprofit organization, the 501(c)(3) covers a lot of ground.Aug 10, 2018 Becoming a 501(c)(3) Tax-Exempt Organization