Here we go again. How can donations for his legal defense fund be tax deductible, as he claims on his site?
From Welsh Dragon's link:
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Thursday, February 19, 2009
Former Sen. Smith's Now a Watchdog
Former Sen. Bob Smith, R-N.H, has a new project, called Americans for Accountability, or A4A, which debuted yesterday with a Freedom of Information Act request seeking "all Obama Administration documents and data pertaining to Sen. Tom Daschle's tax evasion." See here.
The group, which styles itself as an ethics watchdog, is described as a project of the American Patriot Foundation, a 501(c)(3) group, and is soliciting tax deductible contributions. That foundation was set up in 2003, by Smith and his friend Paul Rolf Jensen, a Costa Mesa, Calif. personal injury lawyer whose law office and the foundation share an address.
http://undertheinfluence.nationaljourna ... th-rnh.phpirs:
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Exemption Requirements - Section 501(c)(3) Organizations
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170.
The organization must not be organized or operated for the benefit of private interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence over the organization, an excise tax may be imposed on the person and any organization managers agreeing to the transaction.
Section 501(c)(3) organizations are restricted in how much political and legislative (lobbying) activities they may conduct. For a detailed discussion, see Political and Lobbying Activities. For more information about lobbying activities by charities, see the article Lobbying Issues; for more information about political activities of charities, see the FY-2002 CPE topic Election Year Issues.
http://www.irs.gov/charities/charitable ... 99,00.htmlOnly 10 days away? He's got to have a lawyer already. Who?