Quantum Windbag
Gold Member
- May 9, 2010
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Using the tax code to play political favorites, why am I not surprised?
IRS Denial of Tax Exemption to U.S. Political Group Spurs Alarms - Businessweek
An Internal Revenue Service decision revoking the tax-exempt status of a small political nonprofit organization may foreshadow an investigation into groups such as Crossroads GPS and Priorities USA that spend millions on the 2012 U.S. presidential election.
At risk would be the groups nonprofit status, which lets them collect millions of dollars from individuals and corporations while keeping donors anonymous.
President Barack Obama and Republican challenger Mitt Romney are benefitting from such nonprofits. Crossroads GPS was started with help from former President George W. Bushs chief political strategist, Karl Rove. Priorities USA was co-founded by Bill Burton, a former Obama aide.
The recent IRS decision sends a signal that it may turn its attention after Novembers election to major nonprofits involved in this years election, said Marcus Owens, a lawyer and former IRS director who oversaw nonprofits.
The message is groups like Crossroads need to be prepared to explain to the IRS why theyre entitled to tax-exempt status, said Owens.
IRS Denial of Tax Exemption to U.S. Political Group Spurs Alarms - Businessweek