1. Exempt is frequently used in this area of the federal tax law to mean the same as tax-exempt . Thus, for example, tax-exempt purposes and exempt purposes are synonymous.
2. Reg. § 1.513-1(b).
3. H.R. Rep. No. 2319, 81st Cong., 2nd Sess. 36-37 (1950); S. Rep. No. 2375, 81st Cong., 2nd Sess. 28-29 (1950).
4. S. Rep. No. 94-938, 94th Cong., 2nd Sess. 601 1976
5. American Medical Association v. United States , 887 F.2d 760, 772 (7th Cir. 1989