Charitable Organizations and Federal Taxation

IN TIMES OF heavy government spending and huge revenue bills, it is inevitable that harried legislators and weary taxpayers should cast about for new sources for tax dollars.One new source under attention has been those non-profit organizations traditionally exempted from income taxation under Section 101 of the Internal Revenue Code.That is, organizations such as educational institutions, hospitals, mutual savings banks, and farm cooperatives.In the Revenue Act of 1950,1 Congress more narrowly defined the tax-exempt status of certain of these organizations,