CREW files IRS complaint against Bob Perry's 527
The CREW blog reports: Americans for Honesty on Issues (AFHOI), a 527 organization totally funded by Texan Bob Perry, is not living up to its name. Seems the group is not being quite honest with Americans. They have failed to report contributions and expenditures with the IRS as mandated by federal law. Because of this serious lapse, CREW has filed a complaint with the IRS against the organization:
As of November 2, 2006, AFHOI had not filed reports with the IRS for two reporting periods, including the 3rd quarter report, due October 16, 2006, and the pre-general election report due on October 26, 2006. Federal law requires 527s like AFHOI to disclose all contributions and expenditures to the IRS.Any 527 that fails to report its expenditures and contributions may be assessed a tax up to 35% of the unreported totals. CREW estimates that the IRS could fine AFHOI up to $1.68 million.
-- Citizens Blogging for Responsibility and Ethics In Washington