Baucus leads the Senate Finance Committee, which has oversight authority over non-profits and the IRS, and in his letter he asked the IRS to identify “possible violation of tax law” and suggested those could result in non-profits losing their tax-exempt status. He also indicated that based on the IRS’s findings he might open his own committee investigation and may “take appropriate legislative action.”
Friday, October 1, 2010
Baucus seeks probe of GOP groups
POLITICO.com: "Political spending by 501(c)4 groups appears to be on the rise across the board, but thus far, neither the IRS nor the Federal Election Commission, which is charged with enforcing election laws, have signaled they intend to look into the groups’ spending.
Baucus leads the Senate Finance Committee, which has oversight authority over non-profits and the IRS, and in his letter he asked the IRS to identify “possible violation of tax law” and suggested those could result in non-profits losing their tax-exempt status. He also indicated that based on the IRS’s findings he might open his own committee investigation and may “take appropriate legislative action.”
Baucus leads the Senate Finance Committee, which has oversight authority over non-profits and the IRS, and in his letter he asked the IRS to identify “possible violation of tax law” and suggested those could result in non-profits losing their tax-exempt status. He also indicated that based on the IRS’s findings he might open his own committee investigation and may “take appropriate legislative action.”
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