- Membership
- Certification
- Events
- Community
- About
- Help
1099 reporting of political donations
March 27, 2023
Q. Are donations to politicians 1099 reportable? The payment for the donation was issued by the company I work for.
A.
(Answered by IOFM's third-party tax experts)
A PAC or a candidate’s committee can be exempt from federal income tax on certain types of income, but contributions by a business entity or an institution to the candidate or committee are reportable on Form 1099-MISC, box 3. Section 527 political organization status is not among the exemptions identified in Reg. sec. 1.6041-3 for…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
