In a statement released by the Internal Revenue Service (IRS), the agency is reshaping its proposed (c)(4) regulations after more than 150,000 written comments were made on the new rule on activity of section 501(c)(4) organizations. The new regulation, proposed by the Treasury and IRS last November, elicited the highest amount of comments ever received by Treasury and the IRS.
According to an article in Nonprofit Quarterly, the IRS plans to evaluate the comments and assess public feedback when making changes to the proposal. A public hearing will be held after issuing the revised regulation, but the IRS did not state how much would be changed from the original proposal, what can be expected to change, nor when the new draft would be completed. For more, read the full article.
