Technical topics regarding tax preparation.
501(c)(6) Business league Political contributions
26-Oct-2020 8:58am
A 501 (c) (6) organization wants to make a political contributions for $250. If the political contributions for the organization exceed $2000 would the proxy tax apply ?
26-Oct-2020 6:34pm
That’s a really good question. I do a union that makes political contributions.
27-Oct-2020 7:48am
I looked at the instructions for the 990-T and the proxy tax. It looks like the political contributions and lobbying expenses would be subject to the proxy tax at 21%. In lieu of the proxy tax it looks like you can notify the members that part of their business dues would be not deductible.
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