990 for Political Action Committee PAC

[John of PA]

I'm wondering if anyone does PAC's (Political Action Committee's) . I do the state filings (Campaign Finance Reports) for a State PAC. Does anyone know if a Federal 990 or 990EZ has to be filed for a PAC? Thanks. (Good to be back on the board after a while away).

[Uncle Sam]

990 for PAC

While I'm no expert on this subject - I highly doubt that IRS would grant a tax exempt status to an organization whose purpose is to influence the outcome of government policy making.
I would think that PAC would be a corporation that would be filing Form 1120-POL.

[John of PA]

Thank You

Thank You Uncle Sam, I'm embarrased to say I did not know there even was a form 1120-POL. I will look into it's filing requirements.

[Burke]

While a 501(c)(4) organization is tax-exempt (federal) and can engage in lobbying, it must be related to its function, and cannot be the sole purpose of the organization, so I would think a PAC is out of this category. Examples of 501(c)(4)'s would be the Natl Rifle Assn, AARP, Christian Coalition, etc. Contributions to these are non-deductible as well.

[John of PA]

Thank You

Thank You Burke