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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Political organizations that have taxable income are required to report this income on annual return Form 1120-POL, U.S.
* 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.
* The organization's three most recent annual information returns (forms 990, 990-EZ, 990-BL or form 1065, but not form 990-T or form 1120-POL) including all schedules and attachments filed with the IRS, but not including those parts of the returns that give the names and addresses of contributors.
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.S.
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.
Most organizations were also required to file Form 1120-POL, U.S.
Exemptions from the reporting requirements were expanded and made retroactive to July 1, 2000, and Form 1120-POL was excluded from public inspection.
527 organizations report to the Federal Election Commission and file Form 1120-POL, U.S.
It is important to note that Form 990-T, Exempt Organization Business Income Tax Return, Form 1120-POL, U.S.
Political organizations are required to file Form 1120-POL, U.S.