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Although federal tax law does not allow for political deductions, some state laws may allow for a tax credit or deduction. The donation has to be related to a state-level campaign or candidate.
The federal government will match up to $250 of an individual's total contributions to an eligible candidate. Only candidates seeking nomination by a political party to the office of president are eligible to receive primary matching funds. In addition, a candidate must establish eligibility by submitting to the
The IRS is very clear that money contributed to a politician or political party can't be deducted from your taxes. The following list offers some examples of what the IRS says is
[48] [49] Dues or contributions to 501(c)(4) organizations may be deductible as a business expense under IRC 162, although amounts paid for intervention or participation in any political campaign, direct lobbying, grass roots lobbying, and contact with certain federal officials are not deductible. [50]
Diagram by the Sunlight Foundation depicting the American campaign finance system. The financing of electoral campaigns in the United States happens at the federal, state, and local levels by contributions from individuals, corporations, political action committees, and sometimes the government.
Federal regulations stipulate that campaign funds cannot go toward personal expenses but must pertain to the duties of a candidate or officeholder. For example, a candidate may use campaign funds ...
Campaign finance laws in the United States have been a contentious political issue since the early days of the union. The most recent major federal law affecting campaign finance was the Bipartisan Campaign Reform Act (BCRA) of 2002, also known as "McCain-Feingold".
Expenses have gone toward political campaign consulting, bank fees, printing, signs, a booth at the Boone County Fair and mailings. He had to return $2,000 from a nonallowed contribution, the ...