501(c)(21): Difference between revisions
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'''501(c)(21)''' is an [[Internal Revenue Service]] (IRS) tax exemption status that applies to black lung benefit trusts.<ref name=A>[http://www.irs.gov/irm/part4/irm_04-076-027.html ''Internal Revenue Manual'', "Chapter 76. Exempt organizations examination guidelines, Section 27. Black lung benefit trusts IRC 501(c)(21)," accessed September 23, 2015]</ref> | '''501(c)(21)''' is an [[Internal Revenue Service]] (IRS) tax exemption status that applies to black lung benefit trusts.<ref name=A>[http://www.irs.gov/irm/part4/irm_04-076-027.html ''Internal Revenue Manual'', "Chapter 76. Exempt organizations examination guidelines, Section 27. Black lung benefit trusts IRC 501(c)(21)," accessed September 23, 2015]</ref> | ||
501(c)(21) entities were organized for coal mine operators to pay claims pursuant to the Federal Black Lung Benefit Act of 1969. These benefits are paid to coal mine employees who have been diagnosed with black lung disease as a result of their employment. Benefits include death or disability compensation and insurance premiums. Additionally, these trusts provide health benefits for retired cole miners, their spouses and dependents. As of 2006, there were 28 registered 501(c)(21) trusts.<ref name=B>[http://nccsweb.urban.org/PubApps/subsectionPicker.php ''National Center for Charitable Statistics'', "Organizations by IRS subsection," accessed September 22, 2015]</ref> | 501(c)(21) entities were organized for coal mine operators to pay claims pursuant to the Federal Black Lung Benefit Act of 1969. These benefits are paid to coal mine employees who have been diagnosed with black lung disease as a result of their employment. Benefits include death or disability compensation and insurance premiums. Additionally, these trusts provide health benefits for retired cole miners, their spouses and dependents. As of 2006, there were 28 registered 501(c)(21) trusts.<ref name=B>[http://nccsweb.urban.org/PubApps/subsectionPicker.php ''National Center for Charitable Statistics'', "Organizations by IRS subsection," accessed September 22, 2015]</ref> | ||
==See also== | ==See also== | ||
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==Footnotes== | ==Footnotes== | ||
{{reflist}} | {{reflist}} | ||
{{Influencers HNT}} | {{Influencers HNT}} | ||
[[Category:Influencers terms and definitions]] | [[Category:Influencers terms and definitions]] | ||
Latest revision as of 22:51, 27 March 2025
501(c)(21) is an Internal Revenue Service (IRS) tax exemption status that applies to black lung benefit trusts.[1]
501(c)(21) entities were organized for coal mine operators to pay claims pursuant to the Federal Black Lung Benefit Act of 1969. These benefits are paid to coal mine employees who have been diagnosed with black lung disease as a result of their employment. Benefits include death or disability compensation and insurance premiums. Additionally, these trusts provide health benefits for retired cole miners, their spouses and dependents. As of 2006, there were 28 registered 501(c)(21) trusts.[2]
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