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2. Form 8872 - Report of Contributions and Expenditures Tax-exempt political organizations, other than QSLPOs, that file Form 8871 must file Form 8872, Political Organization Report of Contributions and Expenditures, to disclose information concerning: • expenditures that aggregate $500 or more per person, per calendar year; and • contributions that aggregate $200 or more per person, per calendar year. A tax-exempt political organization that does not disclose this information must pay an amount equal to the highest corporate tax rate (35 percent) multiplied by the amount of contributions and expenditures not disclosed. The filing due dates are available on the IRS web site at www.irs.gov/polorgs. A political organization is not required to file Form 8872 for any period of time that it is subject to tax on its income because it did not file or amend a Form 8871. 3. Form 1120-POL – U.S. Income Tax Return for Certain Political Organizations Political organizations, whether or not tax-exempt, that have taxable income in excess of the $100 specific deduction in a taxable year must file Form 1120-POL, U.S. Income Tax Return for Certain Political Organizations. Form 1120-POL is due by the 15th day of the 3rd month after the end of the organization’s taxable year. Political organizations may request a six-month extension of the filing deadline by filing Form 7004, Application for Automatic Extension of Time to File Corporate Income Tax Return . This extension must be filed by the due date of Form 1120-POL. There is a penalty for failure to file Form 1120-POL. 4. Form 990 or 990-EZ – Return of Organization Exempt from Income Tax Unless excepted (see chart below), a tax-exempt political organization must file an exempt organization annual information return if it has gross receipts of $25,000 or more for the taxable year ($100,000 for QSLPOs). A tax-exempt political organization with gross receipts of less than $100,000 and assets of less than $250,000 at the end of the year may file a Form 990-EZ, Short Form Return of Organization Exempt from Income Tax . Otherwise, it files a Form 990, Return of Organization Exempt from Income Tax . Form 990 or Form 990-EZ is due on the 15th day of the 5th month after the end of the organization’s taxable year. There is a penalty for failure to file this return. Organizations may request a three-month extension, without showing cause, by filing Form 8868, Application for Extension of Time to File an Exempt Organization Return , by the due date. A second three-month extension, with cause, may also be requested through Form 8868.
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