Form 1120-POL

Form 1120-POL

A tax return for the income of a political action committee or other politically-oriented tax exempt organization. While these organizations are not taxed directly, they may use Form 1120-POL to receive credits for federal taxes paid, for example, on gasoline.
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Some political organizations that do not have taxable income nevertheless file a Form 1120-POL to start running the statute of limitation.
They are Section 501(c) organizations that file Form 1120-POL and are covered under Section 527(f)(1) of the Internal Revenue Code.
It will soon be necessary for virtually all PACs to file the annual Form 990 and Form 1120-POL regardless of the amount of interest income earned.
They did file returns under Section 527 on Form 1120-POL and paid the tax on their investment income.
Most charities and nonprofit organizations can e-file; in February 2004, the IRS made the following forms available for e-filing: Form 990, Return of Organization Exempt from Income Tax; Form 990-EZ, Short Return of Organization Exempt from Income Tax; Form 1120-POL, U.
Most organizations were also required to file Form 1120-POL, U.
Exemptions from the reporting requirements were expanded and made retroactive to July 1, 2000, and Form 1120-POL was excluded from public inspection.
Form 1120-POL is required to be filed two and one-half months after year-end by any political organization with taxable income greater than $100.
527 organizations report to the Federal Election Commission and file Form 1120-POL, U.
527(f)(1), which requires the filing of Form 1120-POL because they have made "exempt function" expenditures; or
It is important to note that Form 990-T, Exempt Organization Business Income Tax Return, Form 1120-POL, U.
Political organizations are required to file Form 1120-POL, U.