Agency asks the public whether proposed rules for social welfare groups should apply equally to nonprofit business organizations The Internal Revenue Service has promised to take a hard look at rules regarding political activities by social welfare groups, and as a result, associations may fall under the agency's scrutiny as well. The IRS recently unveiled a set of draft regulations defining in what type of political activity 501(c)(4) groups could engage while still qualifying for tax-exempt status. As part of the proposal, the agency is asking the public to comment on whether the rules should also apply to 501(c)(5) and 501(c)(6) groups. "This is a direct result of the… Read More