Form1120-Pol - U.s. Income Tax Return For Certain Political Organizations - 2013 Page 2
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Form 1120-POL (2013)
Page
Section references are to the Internal
statement filed with the Federal Election
organization that is required to file Form
Revenue Code unless otherwise noted.
Commission. The designation may also
8871, but fails to file it when due, must
be made by attaching a signed
include in taxable income for the period
Future developments. For the latest
statement with all of the following
before Form 8871 is filed, its exempt
information about developments related
information.
function income (including contributions
to Form 1120-POL and its instructions,
received, membership dues, and political
such as legislation enacted after this
• The candidate’s name and address,
fundraising receipts), minus any
form and instructions were published, go
• The candidate’s identifying number,
deductions directly connected with the
to
• The candidate’s party affiliation and
production of that income. The
General Instructions
office sought,
organization may not deduct its exempt
function expenditures because section
• The district and state in which the
Purpose of Form
162(e) denies a deduction for political
office is sought, and
campaign expenditures.
• The name and address of the principal
Political organizations and certain
Exempt Function and Exempt
campaign committee.
exempt organizations file Form 1120-
Function Income
POL to report their political organization
Note. If the candidate for U.S. Congress
taxable income and income tax liability
has a designation in effect from an
The exempt function of a political
under section 527.
earlier year, attach a copy of the earlier
organization includes all activities that
year’s designation to this year’s Form
are related to and support the process of
Phone Help
1120-POL and check the appropriate
influencing or attempting to influence the
box on the form. See Regulations
If you have questions and/or need help
selection, nomination, election, or
completing Form 1120-POL, please call
section 1.527-9. If a candidate for U.S.
appointment of any individual to any
1-877-829-5500. This toll-free telephone
Congress has only one political
federal, state, or local public office, or
campaign committee, no designation is
service is available Monday through
office of a political organization, or the
required. However, be sure to check the
Friday.
election of Presidential or Vice
appropriate box on Form 1120-POL.
Presidential electors, whether or not the
Who Must File
individuals or electors are selected,
2. Newsletter fund, if it is a fund
A political organization, whether or not it
nominated, elected, or appointed. The
established and maintained by an
is tax-exempt, must file Form 1120-POL
term “exempt function” also means the
individual who holds, has been elected
if it has any political organization taxable
making of expenditures relating to the
to, or is a candidate (as defined in
income.
individual’s office, once selected,
section 527(g)(3)) for nomination or
nominated, elected, or appointed, but
election to any federal, state, or local
An exempt organization that is not a
only if the expenditures would be
elective public office. The fund must be
political organization must file Form
deductible by an individual under
maintained exclusively for the
1120-POL if it is treated as having
section 162(a).
preparation and circulation of the
political organization taxable income
individual’s newsletter.
under section 527(f)(1).
Exempt function income is the total of
all amounts received from the following
3. Separate segregated fund, if it is
Political Organizations
sources (to the extent that they are
maintained by a section 501(c)
A political organization is a party,
separately segregated only for use for an
organization (exempt from tax under
committee, association, fund (including a
exempt function):
section 501(a)). For more information,
separate segregated fund described in
see section 527(f)(3) and Regulations
• Contributions of money and property;
section 527(f)(3) set up by a section
section 1.527-6(f).
• Membership dues, fees, or
501(c) organization), or other
assessments paid by a member of a
Taxable Income
organization, organized and operated
political party;
primarily for the purpose of accepting
Political organization taxable income
• Proceeds from a political fundraising or
contributions or making expenditures, or
(line 19) is the excess of (a) gross
entertainment event, or from the sale of
both, to influence the selection,
income for the tax year (excluding
political campaign materials, if those
nomination, election, or appointment of
exempt function income (defined later))
amounts are not received in the active
any individual to any public office or
over (b) deductions directly connected
conduct of a trade or business; and
office in a political organization, or the
with the earning of gross income
• Proceeds from the conduct of a bingo
election of Presidential or Vice
(excluding exempt function income).
game, as described in section 513(f)(2).
Presidential electors. Political
Taxable income is figured with the
organizations include a:
Specified Taxable Income
following adjustments.
1. Principal campaign committee, if it
1. A specific deduction of $100 is
Newsletter fund. Taxable income of a
is the political committee designated by
allowed (but not for newsletter funds),
newsletter fund is figured in the same
a candidate for U.S. Congress as his or
manner as taxable income of a political
2. The net operating loss deduction is
her principal campaign committee for
organization except that the specific
not allowed, and
purposes of section 302(e) of the Federal
deduction of $100 is not allowed.
Election Campaign Act of 1971 and
3. The dividends-received deduction
Exempt organization that is not a
section 527(h).
and other special deductions for
political organization. Taxable income
corporations are not allowed. See
If a candidate for U.S. Congress elects
for an exempt organization described in
section 527(c)(2)(C).
to make a designation under section
section 501(c) that is not a political
527(h), he or she must designate the
Effect of failure to file Form 8871.
organization is the smaller of:
principal campaign committee by
Unless excepted (see Other Reports and
1. The net investment income of the
attaching a copy of the Statement of
Returns That May Be Required), every
organization for the tax year, or
Candidacy to Form 1120-POL. This can
political organization, in order to be
be either the Federal Election
considered a tax-exempt organization,
2. The amount spent for an exempt
Commission’s Form 2 or an equivalent
must file Form 8871, Political Organization
function during the tax year either
Notice of Section 527 Status. An
directly or indirectly through another
organization.
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