501(c)(18): Pension trusts Section 501(c)(18) delivers the exemption for employee-funded pension trusts made ahead of June 25, 1959. This provision has restricted application, and applies for the payment of positive aspects beneath a pension program that is funded by personnel or trusts that happen to be made ahead of June 25, 1959.
501(c)(19): Armed ForcesSection 501(c)(19) delivers the exemption to get a post or organization of past or present members on the U.S. Armed Forces. These organizations are commonly known as veterans’ organizations, which has to be operated exclusively to accomplish the following:
- Promote the social welfare on the community
- Help disabled veterans and members on the Armed Forces and their dependents or widows (plus the orphans of deceased veterans) Deliver care and help to hospitalized veterans or U.S. Armed Forces members
- Carry on applications to perpetuate the memory of deceased veterans
- Conduct religious, charitable, scientific, literary, or other educational applications
- Sponsor or take part in patriotic activities
- Deliver insurance coverage positive aspects for members and their dependents
- Deliver social and recreational activities for their members
Elmer Tamayo is the author of myaccountinginfo.net who took-up his degree of "BS in Accountancy" major in accounting. A Web designer and blogger, His passion is Reading books, searching new tech update on the world wide web. Read More...
