Page:United States Statutes at Large Volume 116 Part 3.djvu/340

 116 STAT. 1932 PUBLIC LAW 107-276—NOV. 2, 2002 26 USC 6012 note. Public information. 26 USC 527 note. 26 USC 527. 26 USC 527 note. "(B) which is a caucus or association of State or local officials, "(C) which is an authorized committee (as defined in section 301(6) of the Federal Election Campaign Act of 1971) of a candidate for Federal office, "(D) which is a national committee (as defined in section 301(14) of the Federal Election Campaign Act of 1971) of a political party, "(E) which is a United States House of Representatives or United States Senate campaign committee of a political party committee, "(F) which is required to report under the Federal Election Campaign Act of 1971 as a political committee (as defined in section 301(4) of such Act), or "(G) to which section 527 applies for the taxable year solely by reason of subsection (f)( 1) of such section. "(4) DiseRETlONARY EXCEPTION. —The Secretary may relieve any organization required under paragraph (2) to file an information return from filing such a return if the Secretary determines that such filing is not necessary to the efficient administration of the internal revenue laws.", (d) EFFECTIVE DATE. —The amendments made by this section shall take effect as if included in the amendments made by Public Law 106-230. SEC. 4. NOTIFICATION OF INTERACTION OF REPORTING REQUIRE- MENTS. (a) IN GENERAL. — The Secretary of the Treasury, in consultation with the Federal Election Commission, shall publicize— (1) the effect of the amendments made by this Act, and (2) the interaction of requirements to file a notification or report under section 527 of the Internal Revenue Code of 1986 and reports under the Federal Election Campaign Act of 1971. (b) INFORMATION.—Information provided under subsection (a) shall be included in any appropriate form, instruction, notice, or other guidance issued to the public by the Secretary of the Treasury or the Federal Election Commission regarding reporting requirements of political organizations (as defined in section 527 of the Internal Revenue Code of 1986) or reporting requirements under the Federal Election Campaign Act of 1971. SEC. 5. WAIVER OF FILING AMOUNTS. (a) WAIVER OF FILING AMOUNTS.—Section 527 of the Internal Revenue Code of 1986 is amended by adding at the end the following: "(k) AUTHORITY TO WAIVE. —The Secretary may waive all or any portion of the— "(1) tax assessed on an organization by reason of the failure of the organization to comply with the requirements of subsection (i), or "(2) amount imposed under subsection (j) for a failure to comply with the requirements thereof, on a showing that such failure was due to reasonable cause and not due to willful neglect.". (b) EFFECTIVE DATE. —The amendment made by subsection (a) shall apply to any tax assessed or amount imposed after June 30, 2000.

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