foreign funding transparency act advances in congress
congress is pushing the foreign funding transparency act to shed light on where foreign cash comes from when it goes to political groups. new rules mean tax-exempt orgs will need to report donations from foreign nations to the IRS. this move aims to stop shady money from reaching outfits like actblue. fox news channel reported on this.
Transcript (en)
reporting requirements for tax-exempt groups. Lawmakers are seeking to expose foreign nationals who may be funneling money and donations through tax-exempt organizations to political committees. The new rules would require tax-exempt organizations to collect and report to Internal Revenue Service donations received from foreign nationals.
