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IRS publishes Q&A on new

IRS publishes Q&A on new Section 527 requirements

The Internal Revenue Service has published a Revenue Ruling in a question and answer format on the new requirements for political organizations. Here is the introduction to the Ruling:

On November 2, 2002, Pub. L. 107-276 was enacted, amending § 527 of the Code. The new law amends the reporting and disclosure requirements for tax-exempt political organizations described in § 527 with respect to the following: (1) notice of status, (2) periodic reports of contributions and expenditures, and (3) annual returns. This revenue ruling provides questions and answers relating to the reporting and disclosure requirements for political organizations described in § 527, as amended by Pub. L. 107-276.