H.R. 10651
End Tax Breaks for Dark Money Act
Summary:
• Amends the Internal Revenue Code of 1986 to extend existing tax treatment of appreciated property transfers—currently applied to political organizations—to also cover certain tax-exempt organizations described under section 501(c)(4), (5), and (6)
• Creates a new "specified organization" category that includes both political organizations and these additional tax-exempt groups, meaning transfers of appreciated property to such organizations would be treated as taxable recognition events
• The bill is titled the "End Tax Breaks for Dark Money Act" and applies to transfers made after the date of enactment
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• Creates a new "specified organization" category that includes both political organizations and these additional tax-exempt groups, meaning transfers of appreciated property to such organizations would be treated as taxable recognition events
• The bill is titled the "End Tax Breaks for Dark Money Act" and applies to transfers made after the date of enactment
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