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Stay cool as political campaigns heat up

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in Small Business Tax,Small Business Tax Deduction Strategies

As the November elections draw closer, the IRS aims to ramp up its investigations of political campaigning by “social welfare groups” and other nonprofit organizations. It will be carefully eyeballing these entities to ensure they don’t cross the boundaries established by law.

Notably, tax-exempt charities are prohibited from participating in political campaigns, although social welfare groups may engage in some political activity as long as it’s not their ­primary function.

The IRS has already sent out questionnaires about political activities to groups that are applying for tax-exempt status. It is also following up on tips about organizations from both sides of the political divide that may be trying to circumvent the rules.

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