Linux Kernel Tax-Exempt
The IRS (Internal Revenue Service) has recognized the Linux Kernel project as a private operating foundation and exempted it from income tax.
Recognition as a private operating foundation by the IRS has given the Linux Kernel Organization a status similar to that of a registered charity. Pursuant to paragraph 501(c)3, the organization is permitted to issue receipts for donations and gifts which are tax-deductible for the giver. Linux Kernel Organization can also distribute the Linux kernel and other Open Source software and engage in tax-exempt operations.
The Linux Kernel Organization is assured of its status as a non-profit organization without regular income, funded by donations for at least a year. After the first year, Kernel Org will be required to submit documents on an annual basis to demonstrate its continued status.
Official recognition is extremely important to the continued existence of the organization, and gives Kernel Org the ability to canvas for funds that would normally be subject to taxation. In addition to this, tax exemption makes the organization more attractive to sponsors who can set off their donations.
The Linux Kernel Organization was founded in 2002. Its current President is H. Peter Anvin, with Jeff Uphoff as Treasurer and Chris Wright as Secretary. The Board also includes Kees Cook and Linus Torvalds.
Tag Cloud
News
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Heartbleed Bleeds On
According to a report, many potential victims of the Heartbleed attack have patched their systems, but few have cleaned up the crime scene to protect themselves from the effects of a previous intrusion.
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Drone Brain Goes Open Source
DARPA and NICTA release the code for the ultra-secure microkernel system used in aerial drones.
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Password Management Services Vulnerable to Attack
Should you trust an online service to store your online passwords?
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New Raspberry Pi Adds Two USB Ports
New B+ board lets you build cool things without the complication of a powered USB hub.
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Microsoft Grabs No-IP.com Domains
Redmond rushes in to root out alleged malware haven.
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Firefox Steps into 3D
New initiative will bring futuristic virtual reality effects to the web surfing experience.
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New Trojan Targets Online Banking
Dyreza malware launches a man-in-the-middle attack that compromises SSL.
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HP Rolls Out Massive Cloud Network
New cloud combines worldwide access with local attention to data security.
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New Attack Targets Wireless Logins
A first cousin of the recent Heartbleed attack affects EAP-based wireless and peer-to-peer authentication.
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Geeks Petition for Free Lenovo BIOS
FOSS community acts to protect freedom of choice for laptop devices.