Form1120-Pol - U.s. Income Tax Return For Certain Political Organizations - 2015 Page 2
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Form 1120-POL (2015)
Page
1. Principal campaign committee, if it is
Effect of failure to file Form 8871. Unless
Section references are to the Internal
Revenue Code unless otherwise noted.
the political committee designated by a
excepted (see Other Reports and Returns
That May Be Required), every political
candidate for U.S. Congress as his or her
Future developments. For the latest
principal campaign committee for
organization, in order to be considered a
information about developments related to
purposes of section 302(e) of the Federal
tax-exempt organization, must file Form
Form 1120-POL and its instructions, such
Election Campaign Act of 1971 and
8871, Political Organization Notice of
as legislation enacted after they were
section 527(h).
Section 527 Status. An organization that is
published, go to
required to file Form 8871, but fails to file it
If a candidate for U.S. Congress elects
How To Get Forms and
when due, must include in taxable income
to make a designation under section
for the period before Form 8871 is filed, its
Publications
527(h), he or she must designate the
exempt function income (including
principal campaign committee by
Internet. You can access the IRS website
contributions received, membership dues,
attaching a copy of the Statement of
24 hours a day, 7 days a week, at IRS.gov
and political fundraising receipts), minus
Candidacy to Form 1120-POL. This can be
to:
any deductions directly connected with the
either the Federal Election Commission’s
• Download forms, instructions, and
production of that income. The
Form 2 or an equivalent statement filed
publications;
organization may not deduct its exempt
with the Federal Election Commission. The
function expenditures because section
• Order IRS products online;
designation may also be made by attaching
162(e) denies a deduction for political
a signed statement with all of the following
• Research your tax questions online;
campaign expenditures.
information.
• Search publications online by topic or
Exempt Function and Exempt
• The candidate’s name and address,
keyword;
Function Income
• The candidate’s identifying number,
• View Internal Revenue Bulletins (IRBs)
The exempt function of a political
• The candidate’s party affiliation and
published in recent years; and
organization includes all activities that are
office sought,
• Sign up to receive local and national tax
related to and support the process of
news by email.
• The district and state in which the office
influencing or attempting to influence the
is sought, and
Tax forms and publications. The
selection, nomination, election, or
organization can download or print all of
• The name and address of the principal
appointment of any individual to any
the forms and publications it may need on
campaign committee.
federal, state, or local public office, or
Otherwise the
office of a political organization, or the
Note. If the candidate for U.S. Congress
organization can go to
election of Presidential or Vice Presidential
has a designation in effect from an earlier
orderforms to place an order and have
electors, whether or not the individuals or
year, attach a copy of the earlier year’s
forms mailed to it. The organization should
electors are selected, nominated, elected,
designation to this year’s Form 1120-POL
receive its order within 10 business days.
or appointed. The term “exempt function”
and check the appropriate box on the form.
also means the making of expenditures
See Regulations section 1.527-9. If a
General Instructions
relating to the individual’s office, once
candidate for U.S. Congress has only one
selected, nominated, elected, or appointed,
political campaign committee, no
Purpose of Form
but only if the expenditures would be
designation is required. However, be sure
deductible by an individual under section
to check the appropriate box on Form
Political organizations and certain exempt
162(a).
1120-POL.
organizations file Form 1120-POL to report
Exempt function income is the total of
their political organization taxable income
2. Newsletter fund, if it is a fund
and income tax liability under section 527.
all amounts received from the following
established and maintained by an
sources (to the extent that they are
individual who holds, has been elected to,
Phone Help
separately segregated only for use for an
or is a candidate (as defined in section
exempt function):
If you have questions and/or need help
527(g)(3)) for nomination or election to any
completing Form 1120-POL, please call
federal, state, or local elective public office.
• Contributions of money and property;
1-877-829-5500. This toll-free telephone
The fund must be maintained exclusively
• Membership dues, fees, or assessments
service is available Monday through
for the preparation and circulation of the
paid by a member of a political party;
Friday.
individual’s newsletter.
• Proceeds from a political fundraising or
3. Separate segregated fund, if it is
Who Must File
entertainment event, or from the sale of
maintained by a section 501(c)
political campaign materials, if those
A political organization, whether or not it is
organization (exempt from tax under
amounts are not received in the active
tax-exempt, must file Form 1120-POL if it
section 501(a)). For more information, see
conduct of a trade or business; and
has any political organization taxable
section 527(f)(3) and Regulations section
• Proceeds from the conduct of a bingo
income.
1.527-6(f).
game, as described in section 513(f)(2).
An exempt organization that is not a
Taxable Income
political organization must file Form
Specified Taxable Income
1120-POL if it is treated as having political
Political organization taxable income (line
Newsletter fund. Taxable income of a
organization taxable income under section
19) is the excess of (a) gross income for
newsletter fund is figured in the same
527(f)(1).
the tax year (excluding exempt function
manner as taxable income of a political
income (defined later)) over (b) deductions
Political Organizations
organization except that the specific
directly connected with the earning of
deduction of $100 is not allowed.
A political organization is a party,
gross income (excluding exempt function
Exempt organization that is not a
committee, association, fund (including a
income). Taxable income is figured with the
political organization. Taxable income for
separate segregated fund described in
following adjustments.
an exempt organization described in
section 527(f)(3) set up by a section 501(c)
1. A specific deduction of $100 is
section 501(c) that is not a political
organization), or other organization,
allowed (but not for newsletter funds),
organized and operated primarily for the
organization is the smaller of:
2. The net operating loss deduction is
purpose of accepting contributions or
1. The net investment income of the
not allowed, and
making expenditures, or both, to influence
organization for the tax year, or
the selection, nomination, election, or
3. The dividends-received deduction
2. The amount spent for an exempt
appointment of any individual to any public
and other special deductions for
function during the tax year either directly
office or office in a political organization, or
corporations are not allowed. See section
or indirectly through another organization.
the election of Presidential or Vice
527(c)(2)(C).
Presidential electors. Political
organizations include a:
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