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IRS May Start Taxing Contributions to Political Advocacy Groups IRS May Start Taxing Contributions to Political Advocacy Groups

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POLITICS

IRS May Start Taxing Contributions to Political Advocacy Groups

The IRS has sent letters to five donors informing them their contributions to nonprofit advocacy groups active in politics may be subject to gift taxes, The New York Times is reporting.

The IRS would not name the recipients of the letters, but the move have big ramifications for billionaire donors like George Soros and the Koch brothers, who have funneled millions to nonprofit 501(c)(4) corporations that do not have to disclose their donors. 

 

Unlike charities, contributions to these groups, like Americans for Prosperity and Crossroads GPS, have always been subject to gift taxes, but the IRS has never enforced the rule, the Times reports.

An IRS spokeswoman said the instructions did not come from the White House, but were initiated by IRS employees "as part of their increased efforts in the area of nonfiling of gift and estate tax returns."

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