Saturday, December 10, 2011

Types of Political Commitees and Organizations

It can be helpful to think of the word “committee” in political committee to mean not “a group of persons” but rather more as a “political bank account”. Money in political committees is regulated by the FEC; any money moving in or out of a political committee is disclosed. But a political committee is not a literal bank account. Political committees establish deposit accounts at traditional banks and disclose where those accounts are to the FEC. The activity in those accounts then must be reported to the FEC. Political organizations register with the IRS, not the FEC.

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