What Are the IRS Tax Filing Requirements for a Political Action Committee?
tax forms image by Chad McDermott from Fotolia.com jQuery(document).ready(function(){ jQuery(‘#jsArticleStep1 span.image a:first’).attr(‘href’,’http://i.ehow.com/images/a06/aa/r2/irs-requirements-political-action-committee_-1.1-800X800.jpg’); }); Political action committees must file forms for section 527 organizations. The IRS categorizes political action committees as political organizations–groups that accept donations and make contributions with the purpose of influencing the selection, appointment or election of individuals into public office. As a political organization, political action committees (PACs) fall under section 527 of the Internal Revenue Code. Initial Notice The initial notice, Form 8871, informs the IRS that the political action committee is a tax-exempt political organization under section 527. The PAC must amend Form 8871 within 30 days after any material changes to its reported information, and file a final Form 8871 upon termination of the organization. Period
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