IRS Will Not Pursue Gift Tax Audits for Donors to Section 501(c)(4) Organizations

The IRS just announced that it will not pursue gift tax audits of donors to Section 501(c)(4) organizations, and closed the outstanding examinations.  Further, it is coordinating with its Office of Chief Counsel on the need for further guidance, but any enforcement action would be prospective only and after notice to the public. See below for a […]