Paul L. Caron

Wednesday, March 23, 2016

DNC Failed To Get 501(c)(3) Exemption For Philadelphia Convention, Putting Donors' Charitable Deductions At Risk

DNC 2New York Post Page Six, DNC Chairman Messed Up Donors’ Taxes:

Ed Rendell, the former mayor of Philadelphia and governor of Pennsylvania, made a mistake that could cost some fellow Democrats big bucks.

Rendell — chairman of the Philadelphia 2016 Host Committee for the Democratic National Convention — failed to obtain 501(c)(3) nonprofit, tax-exempt status before collecting money, and now his donors can’t get tax deductions on their contributions.

“Rendell’s scrambling to fix the situation,” one source told me. “He’s been calling donors telling them, ‘I messed up, but don’t worry. I’ll get it straightened out.’ ”

The donors were expecting 501(c)(3) documents as proof that they could deduct their donations from their 2015 taxes due next month. Now they will have to file for an extension.

Political News, Tax | Permalink