Form 1120-Pol - U.s. Income Tax Return For Certain Political Organizations - 2012 Page 5
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65
Form 1120-POL (2012)
Page
Specific Instructions
separate segregated funds compute
• Online by clicking the Employer ID
Numbers (EINs) link at
their tax by subtracting line 16 from line
businesses/small. The EIN is issued
8 and enter the result on line 17(c).
Period covered. File the 2012 return for
immediately once the application
calendar year 2012 and fiscal years that
Exempt organizations (section
information is validated.
begin in 2012 and end in 2013. For a
501(c)) that are not political
fiscal year, fill in the tax year space at
organizations. Complete lines 17a and
• By telephone at 1-800-829-4933.
the top of the form.
17b if the organization made exempt
The online application process is not
function expenditures that were not from
Note. The 2012 Form 1120-POL may
yet available for organizations with
a separate segregated fund. Enter on
also be used if:
addresses in foreign countries.
line 17c the smaller of line 17a or 17b.
• The organization has a tax year of less
If the organization has not received its
See Exempt organization that is not a
than 12 months that begins and ends in
EIN by the time the return is due, write
political organization, earlier, for an
2013, and
“Applied for” in the space provided for
explanation of the amounts to enter on
the EIN. See Pub. 583 for details.
• The 2013 Form 1120-POL is not
these lines.
available at the time the organization is
Income and deductions. Campaign
Line 19. Taxable income. If the taxable
required to file its return. The
contributions and other exempt function
income on line 19 is zero or less, the
organization must show its 2013 tax year
income are generally not includible in
Form 1120-POL is not required to be
on the 2012 Form 1120-POL and take
income; likewise, campaign expenditures
filed, but it may be filed to start the
into account any tax law changes that
and other exempt function expenditures
statute of limitations period.
are effective for tax years beginning after
are not deductible. To be deductible in
Line 20. Income tax. The rate of tax
December 31, 2012.
computing political organization taxable
imposed depends on whether the
income, expenses must be directly
Address. Include the suite, room, or
political organization is a principal
connected with the production of
other unit number after the street
campaign committee as defined in
political organization taxable income. In
address. If the Post Office does not
section 527(h). The tax rate is lower for a
those cases where expenses are
deliver mail to the street address and the
principal campaign committee.
attributable to the production of both
organization has a P.O. box, show the
Political organization not a principal
exempt function income and political
box number instead of the street
campaign committee. An organization
organization taxable income, the
address.
expenses should be allocated on a
that is not a principal campaign
Final return, name change, address
reasonable and consistent basis. Only
committee computes its tax by
change, amended return. If the
the portion allocable to the production of
multiplying line 19 by 35% and enters
organization ceases to exist, check the
political organization taxable income
the result on line 20.
“Final return” box.
may be deducted. No deduction is
Principal campaign committee
If the organization has changed its
allowed for general administrative or
(section 527(h)). A political organization
name since it last filed a return, check
indirect expenses.
that is a principal campaign committee
the “Name change” box.
Line 7. Other income and nonexempt
of a candidate for U.S. Congress
If the organization has changed its
function expenditures. Enter the
computes its tax in the same manner as
address since it last filed a return, check
income from other sources, such as:
provided in section 11(b) for
the “Address change” box.
corporations. Compute the tax as
• Exempt function income that was not
follows:
Note. If a change in address occurs
properly segregated for exempt
after the return is filed, the organization
functions.
1. Enter taxable income (line
should use Form 8822-B, Change of
• Income received in the ordinary course
19, Form 1120-POL)
.
.
Address—Business, to notify the IRS of
of a trade or business.
2. Enter line 1 or $50,000,
the new address.
whichever is less .
.
.
• Ordinary income from the trade or
Amended return. If you are filing an
3. Subtract line 2 from line 1
business activities of a partnership
amended Form 1120-POL:
(from Schedule K-1 (Form 1065), Part III,
4. Enter line 3 or $25,000,
• Check the “Amended return” box,
box 1).
whichever is less .
.
.
• Complete the entire return,
5. Subtract line 4 from line 3
• Exempt function income (minus any
deductions directly connected with the
6. Enter line 5 or $9,925,000,
• Correct the appropriate lines with the
production of that income) taxable under
whichever is less .
.
.
new information, and
section 527(i)(4) for failure to timely file
7. Subtract line 6 from line 5
• Refigure the tax liability.
Form 8871. Include amounts whether or
8. Multiply line 2 by 15% .
.
Attach a sheet that explains the
not segregated for use for an exempt
9. Multiply line 4 by 25% .
.
reason for the amendments and
function.
identifies the lines and amounts being
10. Multiply line 6 by 34% .
.
Also include on this line:
changed on the amended return.
11. Multiply line 7 by 35% .
.
• Expenditures that were made from
Generally, the amended return must be
12. If line 1 is greater than
exempt function income that were not
filed within 3 years after the date the
$100,000, enter the smaller
for an exempt function and resulted in
original return was due or 3 years after
of: 5% of taxable income in
direct or indirect financial benefit to the
the date the organization filed it,
excess of $100,000, or
political organization (see Regulations
whichever is later.
$11,750
.
.
.
.
.
section 1.527-5 for examples) and
13. If line 1 is greater than $15
Employer identification number (EIN).
million, enter the smaller of:
• Illegal expenditures.
Enter the nine-digit EIN assigned to the
3% of taxable income in
organization. If the organization does not
Attach a schedule listing all income
excess of $15 million or
have an EIN, it must apply for one. An
and expenditures included on line 7.
$100,000 .
.
.
.
.
EIN can be applied for:
Line 17. Taxable income before
14. Add lines 8 through 13.
specific deduction of $100. Political
Enter here and on line 20,
Form 1120-POL
.
.
.
organizations, newsletter funds, and
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