If someone donates money to a Super PAC

[her209]

how do they claim it on their tax returns such that they don't disclose themselves as a donor to said Super PAC?

 

[Matt1970]

I don't think the IRS shares that info.

 

[BoomerD]

Why would you claim it on your tax returns?

http://www.irs.gov/publications/p17/ch28.html

Campaign Expenses

You cannot deduct campaign expenses of a candidate for any office, even if the candidate is running for reelection to the office. These include qualification and registration fees for primary elections.

Of course, such mundane regulations don't apply to the 1%...but they have tax professionals who take care of things like this for them.

 

[dullard]

BoomerD is correct. You can take tax deductions for donations to charities, but not for donations to charity cases.

 

[techs]

If your candidate wins he reimburses you x10 in no bid contracts.

 

[her209]

Why would you claim it on your tax returns?

http://www.irs.gov/publications/p17/ch28.html

Of course, such mundane regulations don't apply to the 1%...but they have tax professionals who take care of things like this for them.

Super PACs are separate from a candidate's campaign. They would fall under the 503(c)(4) section if anywhere in the IRS tax code.

However, here's what the IRS says about donations to 503(c)(4)'s.

 

[BoomerD]

Super PACs are separate from a candidate's campaign. They would fall under the 503(c)(4) section if anywhere in the IRS tax code.

However, here's what the IRS says about donations to 503(c)(4)'s.

http://www.fool.com/taxes/2000/taxes000922.htm

You should be aware that these rules apply not only to funds that you pay to the two national political parties but also to:

Any national, state, or local committee of a political party; and

Any committee, association, or organization whose purpose is to influence the election of any individual to public office.

This being the case, you can't deduct any contributions that you make to a political action committee (PAC) if the PAC spends money to influence the selection, nomination, or election of any individual to elected public office. Since most PACs undertake such influence in some way or another, it's likely that any payments you make to a PAC will be non-deductible contributions.

We all realize that money is the mother's milk of politics. And, we would certainly expect you to want to provide financial support to your favorite political party and candidate. That's all fine and good. Just don't expect Uncle Sammy to subsidize your contribution in the form of a tax deduction.

 

[a777pilot]

If your candidate wins he reimburses you x10 in no bid contracts.

You mean like Solyndra?

 

[Double Trouble]

how do they claim it on their tax returns such that they don't disclose themselves as a donor to said Super PAC?

Why would they put that donation on their tax returns? Donations to super PACs for elections are not tax deductible.

 

[spidey07]

In case you didn't know you can't deduct it. I make a good amount of PAC donations and they're always very clear it isn't tax deductible.

 

[Jhhnn]

You guys aren't thinking outside the box. If you donate to a charitable organization that then donates to an organization who does "issue advocacy" ads, you can remain anonymous, & get a tax break, so long as the end organization follows certain rules. That's the simplified version of reality, where right wing organizations shuffle money around faster than the action at a craps table...

 

[sandorski]

You guys aren't thinking outside the box. If you donate to a charitable organization that then donates to an organization who does "issue advocacy" ads, you can remain anonymous, & get a tax break, so long as the end organization follows certain rules. That's the simplified version of reality, where right wing organizations shuffle money around faster than the action at a craps table...

This.

 

[spidey07]

As opposed to unions stealing money and using it for direct political activities and direct contributions to candidates?

Also I have a right to privacy. Who I donate to is none of your business.

 

[Jhhnn]

As opposed to unions stealing money and using it for direct political activities and direct contributions to candidates?

Also I have a right to privacy. Who I donate to is none of your business.

Standard wingnut attributions- totally unsurprising. In most states, union represented people have the option of becoming fee objectors, pay a little less for the services the union provides outside of politics. In right to work for less states, objectors get free union services, anyway.

Most union members have enough sense to realize that politics is an important aspect to their well-being, while idiots are free to act like idiots. Union money is spent above board wrt politics.

Privacy ends at the boundary of responsibility for "free speech". If you say it, or particularly if you provide funds for it to be disseminated, then you should be proud to own it. Otherwise, you're creating illusions & disinformation, regardless of the message.

Is it honest to make billionaire money look like it came from a group of ordinary concerned citizens? Is it honest to spend foreign money to run your organization while spending every bit of domestic money for partisan political purposes, a la the C of C?