Posted 1 year ago on Jan. 19, 2012, 7:35 a.m. EST by aahpat
This content is user submitted and not an official statement
The OWS blackout yesterday was specifically crafted to influence legislation. But, as has been posted elsewhere on these forums the tax laws limit what political activity OWS can engage in.
"...To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates..."
I disagree with OWS being in the tax status it has put itself in just so big contributors can evade paying taxes. It could end up really costing OWS both in money and in credibility.