Publication 553 - Highlights Of 2002 Tax Changes Page 25
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31web site at Additionally, the organi-
Annual Returns — Form 1120–POL
zation must make available for public inspection a copy of
and Form 990
Form 8871 during regular business hours at the
organization’s principal office and at each of its regional or
district offices having at least 3 paid employees.
Changes in filing Form 1120 –POL. Political organiza-
tions, whether or not tax-exempt, are required to file Form
1120 –POL if the organization has taxable income for the
Report of Contributions and
year in excess of $100. In previous years Form 1120 –POL
Expenditures — Form 8872
was required for organizations that had gross receipts of
$25,000 or more.
Generally, Form 8872 is filed by tax-exempt section 527
political organizations that accept contributions or make
Additionally, Form 1120 –POL is no longer subject to
expenditures for an exempt function. The following
public inspections.
changes have been made to the filing requirements of
Form 8872.
Changes in filing Form 990 (Form 990 – EZ). Generally,
•
tax-exempt political organizations with gross receipts of
If an organization pays an individual $500 or more
$25,000 ($100,000 for a QSLPO) or more for the tax year
for the calendar year, the organization is required to
are required to file Form 990 (Form 990 –EZ) unless spe-
disclose the date the individual was paid and the
purpose of each expenditure on Form 8872.
cifically excepted from filing the annual return. The follow-
•
ing organizations are not required to file Form 990 (Form
If an organization receives contributions of $200 or
990 –EZ).
more from one contributor for the calendar year, the
•
organization must disclose the date of the contribu-
A state or local committee of a political party, or a
tions.
political committee of a state or local candidate.
•
A qualified state or local political organization
•
A caucus or association of state or local officials.
(QSLPO) is not required to file Form 8872.
•
An authorized committee of a candidate for federal
office.
Qualified state or local political organization. A state
•
or local political organization may be a QSLPO if:
A national political party campaign committee for a
candidate seeking election or reelection to the U.S.
1) All of its political activities relate solely to any state or
House of Representatives or the U.S. Senate.
local public office (or office in a state or local political
•
A political organization that is required to report as a
organization).
political committee under the Federal Election Cam-
2) The state agency and the organization make the
paign Act.
reports filed by the organization publicly available.
•
A 501(c) organization with respect to any of its ex-
3) No federal candidate or office holder:
penditures for influencing or attempting to influence
the selection, nomination, election or appointment of
a) Controls or materially participates in the direction
any individual for a federal, state or local public of-
of the organization,
fice.
b) Solicits contributions to the organization, or
For more information, see the relevant forms and their
c) Directs the disbursements of the organization.
instructions, and Fact Sheet 2002-13 (FS 2002-13) avail-
able on the IRS web site at
4) It is subject to state laws that require it to report (and
it does report) to a state agency information about
contributions and expenditures that is similar to the
information that the organization would otherwise be
2003 Change
required to report to the IRS.
For additional information on QSLPOs, see Fact Sheet
2002-13 (FS 2002-13). The Fact Sheet is available on the
Report of Contributions and
IRS web site at
Expenditures
Public inspection of Form 8872. The IRS will make
Organizations required to file Form 8872, Political Organi-
Form 8872 (including Schedules A and B) available for
zation Report of Contributions and Expenditures, on or
public inspection on the IRS web site at
after June 30, 2003, must file the form electronically if the
polorgs. Additionally, the organization must make avail-
organization expects to have contributions or expenditures
able for public inspection a copy of Form 8872 during
that are more than $50,000.
regular business hours at the organization’s principal office
Form 8872 filed before June 30, 2003, can be filed
and at each of its regional or district offices having at least
3 paid employees.
electronically or by mail.
Chapter 4 Exempt Organizations
Page 25
ADVERTISEMENT
0 votes
Related Articles
Related forms
Publication 1212 - List Of Original Issue Discount Instruments - Department Of Treasury - 2002
Financial
Change Of Address Notifi Cation For Individual Income Tax Form - Office Of State Tax Commissioner - State Of North Dakota
Financial
Related Categories
Parent category: Financial