House Passes Bill Blocking IRS Rules For Tax-Exempt Groups

Law360, New York (February 27, 2014, 2:12 PM EST) -- The U.S. House of Representatives, in a partisan vote, passed legislation Wednesday to block the IRS from implementing proposed regulations that could threaten the tax-exempt status of 501(c)(4) social welfare organizations that engage in political campaigns.

In a 243-176 vote, the House approved the “Stop Targeting of Political Beliefs by the IRS Act of 2014,” introduced by House Ways and Means Chairman Dave Camp, R-Mich. Fourteen Democrats moved across the aisle to support the measure, but zero Republicans voted against it. The vote is unsurprising in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.