Thursday, May 12, 2011

Today's news and views

France bans fracking.

The IRS may be ramping up enforcement on a tax on gifts to 504 (c)(4) organizations--the non-profit political groups that have been used most recently to funnel anonymous cash donations to candidates in 2010, and were poised to make a big impact in the presidential race (The Center for Responsive Politics notes that groups that do not disclose their donors rose from 1 percent of all spending by outside groups to 47 percent between the 2006 election cycle and the 2010 election cycle.). According to Ben Smith, posting on Politico: "Now the Republican donors who gave generously to Crossroads GPS and other groups last cycle may find themselves on the hook for substantial back taxes. And Democrats contemplating contributions to Priorities USA, the new pro-Obama c4, may face similar questions."

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