[Lovebloggers]

The law prohibits anyone who is “testing the waters” from hoarding the money for use during his actual campaign. Potential candidates also cannot refer to themselves as candidates, can’t run ads that publicize their intention to campaign or take steps to qualify for the ballot in a primary or caucus state.

According to a financial report filed with the Internal Revenue Service late last month, Thompson had raised nearly $3.5 million and had had spent $625,000. Thompson must raise money within federal contribution limits and must report it to the FEC once he becomes an official candidate.

“We’re following the law,” Thompson spokesman Jim Mills said in response to the complaint.

Under federal guidelines, the FEC will now give Thompson 15 days to respond to the complaint. Following Thompson’s response, election commissioners will decide whether to dismiss the case or investigate further.

Thompson, an actor on NBC’s “Law & Order” and former Republican Tennessee senator, has been hiring staff, opening a headquarters, holding fundraisers and promoting his credentials as a potential White House contender. But he has not said definitively that he’s a candidate for president. He is expected to make an announcement around Labor Day.

By not filing officially as a candidate, Thompson also benefits from continuing reruns of “Law & Order” without broadcasters encountering demands for equal time from his rivals

http://www.forbes.com/feeds/ap/2007/08/21/ap4039028.html

Link to IRS filing:

http://forms.irs.gov/politicalOrgsSearch/search/Print.action?formId=27093&formType=E72

He should answer this immediately to put it to bed — better yet, he should just declare his candidacy.

[prairiebreeze]

Thompson must raise money within federal contribution limits and must report it to the FEC once he becomes an official candidate.

Isn't this the money point?

[brothers4thID]

<The law prohibits anyone who is “testing the waters” from hoarding the money for use during his actual campaign.<

Not true, at least not as stated. He is allowed to raise funds for a general campaign but they have to be specifically earmarked thusly and be tracked seperately. Which they have been. He cannot use any such funds during the testing the waters phase or then he would be in violation.

Allegations are almost certainly false and Thompson’s finance director will make short work of them.

[bcsco]

He should answer this immediately to put it to bed — better yet, he should just declare his candidacy.

And you became his campaign manager when?