Question
Why does private inurement threaten exempt status?
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Answer
An insider cannot benefit from net earnings; violation risks revocation.
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Question
How do intermediate sanctions differ from revocation for excess benefit transactions?
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Answer
They tax the disqualified person without revoking exemption.
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Question
What filing consequence follows three consecutive years of non-filing?
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Answer
Automatic revocation of exempt status.
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Question
When must an exempt organization file Form 990-T?
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Answer
When gross UBI is at least $1,000.
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