Form 1120-Pol - U.s. Income Tax Return For Certain Political Organizations - 2014 Page 5
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65
Form 1120-POL (2014)
Page
Note. The 2014 Form 1120-POL may also
Exempt organizations (section 501(c))
The online application process is not yet
that are not political organizations.
be used if:
available for organizations with addresses
in foreign countries.
Complete lines 17a and 17b if the
• The organization has a tax year of less
organization made exempt function
than 12 months that begins and ends in
If the organization has not received its
expenditures that were not from a separate
2015, and
EIN by the time the return is due, write
segregated fund. Enter on line 17c the
“Applied for” in the space provided for the
• The 2015 Form 1120-POL is not
smaller of line 17a or 17b. See Exempt
EIN. See Pub. 583 for details.
available at the time the organization is
organization that is not a political
Income and deductions. Campaign
required to file its return. The organization
organization, earlier, for an explanation of
must show its 2015 tax year on the 2014
contributions and other exempt function
the amounts to enter on these lines.
income are generally not includible in
Form 1120-POL and take into account any
Line 19. Taxable income. If the taxable
tax law changes that are effective for tax
income; likewise, campaign expenditures
income on line 19 is zero or less, the Form
years beginning after December 31, 2014.
and other exempt function expenditures
1120-POL is not required to be filed, but it
are not deductible. To be deductible in
Address. Include the suite, room, or other
may be filed to start the statute of
computing political organization taxable
unit number after the street address. If the
limitations period.
income, expenses must be directly
Post Office does not deliver mail to the
connected with the production of political
Line 20. Income tax. The rate of tax
street address and the organization has a
organization taxable income. In those
imposed depends on whether the political
P.O. box, show the box number instead of
cases where expenses are attributable to
organization is a principal campaign
the street address.
the production of both exempt function
committee as defined in section 527(h).
Final return, name change, address
income and political organization taxable
The tax rate is lower for a principal
change, amended return. If the
income, the expenses should be allocated
campaign committee.
organization ceases to exist, check the
on a reasonable and consistent basis. Only
Political organization not a principal
“Final return” box.
the portion allocable to the production of
campaign committee. An organization
If the organization has changed its name
political organization taxable income may
that is not a principal campaign committee
since it last filed a return, check the “Name
be deducted. No deduction is allowed for
computes its tax by multiplying line 19 by
change” box.
general administrative or indirect expenses.
35% and enters the result on line 20.
If the organization has changed its
Line 7. Other income and nonexempt
Principal campaign committee
address since it last filed a return, check
function expenditures. Enter the income
(section 527(h)). A political organization
the “Address change” box.
from other sources, such as:
that is a principal campaign committee of a
Note. If a change in address occurs after
• Exempt function income that was not
candidate for U.S. Congress computes its
the return is filed, the organization should
properly segregated for exempt functions.
tax in the same manner as provided in
use Form 8822-B, Change of Address—
section 11(b) for corporations. Compute
• Income received in the ordinary course
Business, to notify the IRS of the new
the tax as follows:
of a trade or business.
address.
• Ordinary income from the trade or
1. Enter taxable income (line
Amended return. If you are filing an
business activities of a partnership (from
19, Form 1120-POL)
.
.
amended Form 1120-POL:
Schedule K-1 (Form 1065), Part III, box 1).
2. Enter line 1 or $50,000,
• Check the “Amended return” box,
whichever is less .
.
.
• Exempt function income (minus any
• Complete the entire return,
deductions directly connected with the
3. Subtract line 2 from line 1
production of that income) taxable under
• Correct the appropriate lines with the
4. Enter line 3 or $25,000,
section 527(i)(4) for failure to timely file
new information, and
whichever is less .
.
.
Form 8871, Political Organization Notice of
5. Subtract line 4 from line 3
• Refigure the tax liability.
Section 527 Status. Include amounts
6. Enter line 5 or $9,925,000,
Attach a sheet that explains the reason
whether or not segregated for use for an
whichever is less .
.
.
for the amendments and identifies the lines
exempt function.
and amounts being changed on the
7. Subtract line 6 from line 5
Also include on this line:
amended return. Generally, the amended
8. Multiply line 2 by 15% .
.
• Expenditures that were made from
return must be filed within 3 years after the
exempt function income that were not for
9. Multiply line 4 by 25% .
.
date the original return was due or 3 years
an exempt function and resulted in direct
after the date the organization filed it,
10. Multiply line 6 by 34% .
.
or indirect financial benefit to the political
whichever is later.
11. Multiply line 7 by 35% .
.
organization (see Regulations section
Employer identification number (EIN).
12. If line 1 is greater than
1.527-5 for examples) and
Enter the nine-digit EIN assigned to the
$100,000, enter the smaller
• Illegal expenditures.
organization. If the organization does not
of: 5% of taxable income in
excess of $100,000, or
have an EIN, it must apply for one. An EIN
Attach a schedule listing all income and
$11,750
.
.
.
.
.
can be applied for:
expenditures included on line 7.
13. If line 1 is greater than $15
• Online by clicking the Employer ID
Line 17. Taxable income before specific
million, enter the smaller of:
Numbers (EINs) link at
deduction of $100. Political organizations,
3% of taxable income in
businesses/small. The EIN is issued
newsletter funds, and separate segregated
excess of $15 million or
immediately once the application
funds compute their tax by subtracting line
$100,000 .
.
.
.
.
information is validated.
16 from line 8 and enter the result on line
14. Add lines 8 through 13.
17(c).
• By telephone at 1-800-829-4933.
Enter here and on line 20,
Form 1120-POL
.
.
.
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