Replies to post #111616 on Tornado Alley (PROG)

[StephanieVanbryce]

.. so is it exactly all most the same as 'giving' family members .. UP to 20,000 with 13.000 being exempt?

Or not even close .. ;)

[StephanieVanbryce]

ooooops (sorry) . .I just REREAD your post..absent a specifically applicable exemption (there isn't one)

.......I sure hope they do this .. can't wait for the 55 Percent Increase in January.. ;)

[fuagf]

F6, the 'gifts' to 501(c)(4)s are clearly taxable under Federal tax law, and there are no exemptions,
and 501(c)(4)s are obligated to provide names of donors over $5000 to the IRS .. (putting
aside the suggested possible 1st Amdt question) .. so how can this situation exist .. ?

"Enforcement of the gift tax would be up to the IRS. “That’s an interesting issue,”
an agency spokesman said Thursday. He said he would need more time to look into the matter."[...]

Lion writes that there is no indication now the IRS intends to collect the gift
tax on 501(c)(4) contributions, and that there might be First Amendment issue if it tried.

How come the the IRS is not obligated to go after the gift tax?