527 Organizations: Reporting Requirements Imposed on Political Organizations after the Enactment of P.L. 106-230 Metadata

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Title

  • Main Title 527 Organizations: Reporting Requirements Imposed on Political Organizations after the Enactment of P.L. 106-230

Creator

  • Author: Morris, Marie B.
    Creator Type: Personal
    Creator Info: American Law Division

Publisher

  • Name: Library of Congress. Congressional Research Service.
    Place of Publication: Washington D.C.

Date

  • Creation: 2001-03-19

Language

  • English

Description

  • Content Description: On July 1, 2000, President Clinton signed H.R. 4762, P.L. 106-230. The law amended the Internal Revenue Code [IRC] to require political organizations described in IRC § 527 to disclose their political activities, if they were not already required to do so by the Federal Election Campaign Act [FECA]. This report summarizes the three major changes made by the law and some of the major responses to the legislation. First, all 527 organizations which expect to have over $25,000 in gross receipts during a taxable year and which are not required to report to the Federal Election Commission [FEC] are required to register with the IRS within 24 hours of their formation, whether they are involved in state, local, or federal elections. Second, 527 issue advocacy organizations, which previously reported neither to the IRS nor the FEC, are required to file regular disclosure statements with the IRS. Third, all 527 organizations with gross receipts in excess of $25,000 per year are required to file annual reports with the IRS. The registration statements, disclosure forms, and annual reports will be made public. H.R. 527 and S. 527 in the 107th Congress would exempt most state and local 527 organizations from the requirements of P.L. 106-230.
  • Physical Description: 5 pages.

Subject

  • Legislative Indexing Vocabulary: Taxation
  • Legislative Indexing Vocabulary: Political parties
  • Legislative Indexing Vocabulary: Political action committees
  • Legislative Indexing Vocabulary: Internal revenue law
  • Legislative Indexing Vocabulary: Elections
  • Legislative Indexing Vocabulary: Politics and government

Coverage

  • Coverage Date: 2001

Collection

  • Name: Congressional Research Service Reports
    Code: CRSR

Institution

  • Name: UNT Libraries Government Documents Department
    Code: UNTGD

Rights

  • Rights Access: public

Resource Type

  • Report

Format

  • Text

Identifier

  • CRS Report Number: RS20650
  • Accession or Local Control No: RS20650 2001-03-19
  • Archival Resource Key: ark:/67531/metacrs1965