§ 1.527-1. Political organizations; generally.
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/us/cfr/t26/s§ 1.527-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 527 provides that a political organization is considered an organization exempt from income taxes for the purpose of any law which refers to organizations exempt from income taxes. A political organization is subject to tax only to the extent provided in section 527. In general, a political organization is an organization that is organized and operated primarily for an exempt function as defined in § 1.527-2(c). Section 527 provides that a political organization is taxed on its political organization taxable income (see § 1.527-4) which, in general, does not include the exempt function income (see § 1.527-3) of the political organization.
Furthermore, section 527 provides that an exempt organization, other than a political organization, may be subject to tax under section 527 when it expends an amount for an exempt function, see § 1.527-6. The taxation of newsletter funds is provided under section 527(g) and § 1.527-7. A special rule for principal campaign committees is provided under section 527(h) and § 1.527-9. [T.D. 8041, 50 FR 30817, July 30, 1985]
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§ 1.527-1
Political organizations; generally.
Treas. Dec.T.D. 8041
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