Acting IRS commissioner Daniel Werfel said: The rule change is “part of ongoing efforts within the IRS that are improving our work in the tax-exempt area. Once final, this proposed guidance will continue moving us forward and provide clarity for this important segment of exempt organizations.” The new rule change would affect Crossroads GPS, the League of Conservation Voters and most of the groups that the IRS targeted in 2010 to 2012. It would not affect the hundreds of millions spent by unions. (400 million in 2008) Treasury Assistant Secretary for Tax Policy Mark J. Mazur stated: “This proposed guidance is a first critical step toward creating clear-cut definitions of political activity by tax-exempt social welfare organizations. “We are committed to getting this right before issuing final guidance that may affect a broad group of organizations. It will take time to work through the regulatory process and carefully consider all public feedback as we strive to ensure that the standards for tax-exemption are clear and can be applied consistently,”
Posted on: Wed, 27 Nov 2013 13:15:23 +0000
Trending Topics
Recently Viewed Topics
© 2015