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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIRS May Make Political Groups Pay Dearly for Keeping Donors Secret -- And Out Them
WASHINGTON -- For years, the IRS has done little or nothing to check the rise of overtly political groups that claim a special tax-exempt status in order to funnel secret money into election-related advertising.
But in a sign that the agency may be waking from its slumber, the IRS has sent detailed questionnaires to several Tea Party organizations -- and possibly other political groups -- to determine if they truly qualify for the 501(c)(4) designation intended for groups whose exclusive purpose is to promote social welfare.
Should any group currently calling itself a 501(c)(4) have its designation denied or revoked, tax experts said the consequences could be severe, including fines of 35 percent or more of the money they raised in secret.
And the groups might have to make donors' names public.
But in a sign that the agency may be waking from its slumber, the IRS has sent detailed questionnaires to several Tea Party organizations -- and possibly other political groups -- to determine if they truly qualify for the 501(c)(4) designation intended for groups whose exclusive purpose is to promote social welfare.
Should any group currently calling itself a 501(c)(4) have its designation denied or revoked, tax experts said the consequences could be severe, including fines of 35 percent or more of the money they raised in secret.
And the groups might have to make donors' names public.
http://www.huffingtonpost.com/2012/03/08/irs-political-groups-501c4-_n_1333389.html
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IRS May Make Political Groups Pay Dearly for Keeping Donors Secret -- And Out Them (Original Post)
SunsetDreams
Mar 2012
OP
Frustratedlady
(16,254 posts)1. This should make them sit up and howl.
Should have been done a long time ago. Same with these think tanks.
SunsetDreams
(8,571 posts)2. I agree, this is long overdue!
tosh
(4,424 posts)3. 501(c)(3)s as well, I hope,
namely ALEC!!!
Ruby the Liberal
(26,219 posts)5. I support naming ALL of them.
If they are driving on our roads, using public utilities and otherwise benefiting from the system - name them.
No more hiding under 501(c) provisions - OUT with them.
Gman
(24,780 posts)4. I smell a bill being introduced in the House on Monday
that will claim to protect the free speech of the proud patriots that write 7 figure checks without blinking.
Hide and watch.