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67%  
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Keyword: donationtax

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  • IRS investigating donors to political nonprofits

    05/12/2011 9:32:05 PM PDT · by NormsRevenge · 28 replies
    Yahoo ^ | 5/12/11 | Stephen Ohlemacher - ap
    WASHINGTON – The Internal Revenue Service is investigating five donors for making contributions to the kind of nonprofit groups that have become popular for spending millions of dollars on political ads in the past few years. The IRS is trying to determine whether the donors owe federal gift taxes for the donations, an agency spokeswoman said Thursday. The IRS did not name the donors or the nonprofit groups to which they contributed. But the agency's confirmation of an investigation could have a chilling effect on politically active groups that have become integral to campaigns for Congress and could play a...