Certain tax-exempt organizations are no longer required to report to the IRS the names and addresses of donors on IRS Form 990, Schedule B, according to final regulations published on May 28, 2020. Noncharitable organizations, such as 501(c)(4) social welfare organizations and 501(c)(6) trade associations, may report only the amounts
Continue Reading Reporting Donors’ Names to IRS No Longer Required for Certain Nonprofits Per Final Treasury Regulations
501(c)(6)
New Tactic Emerges in Fight to Compel Companies to Disclose So-Called “Dark Money” Contributions
By Zachary G. Parks on
Posted in Corporate Political Spending Disclosure
A new corporate political disclosure trend is coming. For years, those advocating increased corporate political disclosure have looked for ways to force companies to publicly reveal the names and amounts of corporate contributions to so-called “dark money” 501(c)(4) social welfare nonprofits and 501(c)(6) trade associations. To date, these initiatives have…
Continue Reading New Tactic Emerges in Fight to Compel Companies to Disclose So-Called “Dark Money” Contributions
Politically Active Nonprofits Face New Donor Disclosure Law in Washington
By Kevin Glandon on
Posted in Campaign Finance, State Law
Yesterday, Washington State Governor Jay Inslee signed into law the DISCLOSE Act, a law that imposes new donor disclosure requirements on politically active nonprofits.
Under the new law, a nonprofit entity—including, but not limited to a charity, educational institution, advocacy group or trade association—may be required to register with…
Continue Reading Politically Active Nonprofits Face New Donor Disclosure Law in Washington
Gift Tax Certainty at Last?
Posted in Tax
The U.S. House of Representatives this week passed a bill to provide gift tax certainty to individuals who make gifts to 501(c)(4) social welfare organizations, 501(c)(5) labor unions, and 501(c)(6) trade associations. The bill, H.R. 1104 (the “Fair Treatment for All Gifts Act”), was approved with bipartisan support on a…
Continue Reading Gift Tax Certainty at Last?
Proposed IRS Regulations for 501(c)(4)s: Sooner Than Expected, But Probably Too Late
By Robert Kelner on
Posted in Tax
Yesterday evening the Treasury and the IRS released, sooner than expected, proposed regulations that could fundamentally change the playing field for 501(c)(4) organizations active in politics. The proposed regulations will be published in the Federal Register on Friday, November 29. The pre-publication version is here.
Highlights
The proposed regulations…
Continue Reading Proposed IRS Regulations for 501(c)(4)s: Sooner Than Expected, But Probably Too Late
OPEN Sesame or a Potemkin Village?
Posted in Campaign Finance, Tax
Twenty House Democrats yesterday introduced proposed legislation that, if enacted in its current form, would amend the Federal Election Campaign Act of 1971 to:
- Require corporations and labor unions which “submit[] regular, periodic reports” to their shareholders and members to include certain detailed information concerning their political spending. That information