I agree, in point of fact. However, in practice, the result is the same. Most church leaders are not willing to approach, much less push, the envelope. It’s much easier and safer to color inside the lines.
The first amendment guarantees free exercise of both religion and speech—especially political speech. That means discussing candidates and specifically endorsing those who act in accordance with a church’s beliefs.
If you read the 501-C3 guidelines provided by the IRS, the regulations go well beyond tax requirements. They are very explicit in what a corporation can and cannot do in the political arena.
You are correct there - and that's how the IRS usues this bogus regulation (without ever going to court on it) - to intimidate. This is why every year on a certain day hundreds of Pastors, along with the "Freedom Alliance" group, openly give talks/sermons from the pulpit which violate every single one of those regulations. Over 1800 Pastors have participated. They are inviting the IRS to do something about it and, to date, the IRS has never done a thing.