Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
2016 Postmortem
Related: About this forum"IRS Takes a Closer Look at Rove's Dark-Money Group" By Gavin Aronsen at Mother Jones
IRS Takes a Closer Look at Rove's Dark-Money GroupBy Gavin Aronsen at Mother Jones
http://www.motherjones.com/mojo/2012/06/irs-investigation-karl-rove-crossroads
"SNIP............................................
As they dominate the airwaves with political ads, dark-money nonprofits are coming under increased scrutiny. At issue is the charge that they're running afoul of their tax-exempt status by focusing on partisan political activity. Earlier this week, New York Attorney General Eric Schneiderman sent subpoenas to a nonprofit affiliated with the Chamber of Commerce to see if millions of dollars had been improperly funneled to the Chamber (a 501(c)(6) nonprofit) for political purposes.
Now, the Wall Street Journal reports, the Internal Revenue Service has begun a process of determining whether Karl Rove's Crossroads GPS should have to give up its nonprofit 501(c)(4) status and disclose its donors. Democrats and campaign-finance watchdogs have been urging regulators to crack down on groups like Crossroads GPS; last week the Obama campaign's top lawyer sent a snarky letter to Rove saying he was filing a complaint with the FEC "laying out the caseobvious to allthat Crossroads is a political committee subject to federal reporting requirements."
If the IRS revokes Crossroads GPS' or other 501s' nonprofit status, the Journal explains, "the organizations could be held liable for large tax bills for the millions of dollars they have received tax-free." However, reaching such a determination will likely take months. Which means that dark-money groups can keep spending freely on ads and promising anonymity to their donors through the November election.
For more, check out our interactive dark-money universe map, which tracks Crossroads GPS and 17 other 501 groups
..............................................SNIP"
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 1461 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (23)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
"IRS Takes a Closer Look at Rove's Dark-Money Group" By Gavin Aronsen at Mother Jones (Original Post)
applegrove
Jun 2012
OP
There's the money to balance the budget!! Elect Obama & Dark Money's taxes pay for prosperity!!!
Tigress DEM
Jun 2012
#2
1StrongBlackMan
(31,849 posts)1. Not having read the linked article ...
I'd say the biggest prize of the IRS action would not be the tax penalty; but the disclosure that Crossroads GPS is funded by (I suspect) less than 10 people.
This would pull back the curtain on these organization's "Of the People" narrative ... if someone would report on it.
Tigress DEM
(7,887 posts)2. There's the money to balance the budget!! Elect Obama & Dark Money's taxes pay for prosperity!!!
eyewall
(674 posts)3. "Dark Money" is such a fitting term.
especially when Karl Rove is involved.
applegrove
(118,811 posts)4. Yes. I hope it is catchy.