Quantcast
Connect with us

Treasury moves to protect identities of ‘dark money’ political donors

Published

on

The U.S. Treasury said on Monday that it will no longer require certain tax-exempt organizations including politically active nonprofit groups, such as the National Rifle Association and Planned Parenthood, to identify their financial donors to U.S. tax authorities.

The policy change, heralded by conservatives as an advance for free speech, maintains donor disclosure requirements for traditional charity groups organized to receive tax-exempt donations under a section of the Internal Revenue code known as 501(c)(3), the Treasury said.

ADVERTISEMENT

But the move frees labor unions, issue advocacy organizations, veterans groups and other nonprofits that do not receive tax-exempt money from meeting confidential disclosure requirements set in place decades ago.
“Americans shouldn’t be required to send the IRS information that it doesn’t need to effectively enforce our tax laws, and the IRS simply does not need tax returns with donor names and addresses to do its job in this area,” U.S. Treasury Secretary Steven Mnuchin said in a statement.

The change protects the privacy of wealthy donors of “dark money” donations to politically active groups. Conservatives have complained that the disclosures to the IRS, though not public, were susceptible to media leaks.

The issue of the IRS’s handling of nonprofit political groups exploded into headlines several years ago when the federal tax agency was found to have targeted tax-exempt political groups aligned with the conservative Tea Party movement for greater scrutiny.

“It is important to emphasize that this change will in no way limit transparency,” Mnuchin said. “The same information about tax-exempt organizations that was previously available to the public will continue to be available, while private taxpayer information will be better protected.”

Reporting by David Morgan; Editing by Leslie Adler

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Facebook

‘The cost of acquitting Donald Trump just went up’ for the Republicans: MSNBC’s Joy Ann Reid

Published

on

MSNBC host Joy Ann Reid explained during the post-hearing wrap-up that things aren't looking good for Republican senators up for reelection in 2020.

In the wake of EU Ambassador Gordon Sondland's testimony, things are getting more difficult for Republicans faced with a vote on impeachment.

"Even if [the numbers] don't move, the problem is going to be a lot of these people have to run for re-election, letting the president off the hook when it's pretty clear what happened," Reid said. "This is pretty simple, and if I'm Cory Gardener (R-CO), I'm not feeling great."

Brian Williams noted that Rep. Will Hurd (R-TX) is one of the many Republicans "who's leaving town on a fast horse." If anyone could be pealed off by Democrats, Williams thinks it is Hurd.

Continue Reading

Breaking Banner

Indicted Giuliani associate helped Nunes arrange meetings during his overseas trips to discredit the Russia investigation

Published

on

On Thursday, The Daily Beast reported that Lev Parnas, the Rudy Giuliani associate currently under federal indictment for campaign finance violations, helped Rep. Devin Nunes (R-CA) arrange meetings in Europe as part of his efforts to discredit the investigation of Russian contacts within President Donald Trump's campaign.

According to congressional records, Nunes, in his capacity as then-House Intelligence Chairman, visited Europe from November 30 to December 3, of last year, during which he was accompanied by three staffers — Derek Harvey, Scott Glabe, and George Pappas — at a taxpayer expense of over $63,000.

Continue Reading
 

Breaking Banner

Rick Wilson mocks GOP as impeachment witnesses ‘obliterate’ their talking points: ‘Dumber than a sack of hair’

Published

on

On Wednesday, as the House wrapped up another day of bombshell impeachment testimony from multiple foreign service officers, former GOP strategist and Never Trump conservative Rick Wilson mocked President Donald Trump and his Republican allies, pointing out that all of their major talking points to defend the president's conduct in Ukraine have been "obliterated":

1/ Hey committee Republicans! Have you noticed every single line of defense that you've mounted this week for the president has been utterly fucking obliterated?

Is this clear to you yet?

Continue Reading
 
 

Happy Holidays!

As a special thank you from all of us at Raw, we're offering Raw Story ad-free for 15% off - just $2 per week. Now 'til Dec. 31st.
Offer Expires In:
close-link