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Help, Inc., a tax-exempt organization, incurs lobbying expenses of $275,000 during the tax year. Help...

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Accounting

Help, Inc., a tax-exempt organization, incurs lobbying expenses of $275,000 during the tax year. Help is eligible for and makes the 501(h) lobbying expenditure election. During the year, Help spends $1,200,000 carrying out its exempt mission.

a. Will the lobbying expense result in Help losing its exempt status (compute Nontaxable lobbying amount and ceiling)?

b. Calculate the amount of any tax, if any, that Help must pay associated with its lobbying expenses.

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