Law and Capital Markets @ Ohio State is a program of The Moritz College of Law at The Ohio State University. The nonpartisan program aims to further the study of capital markets and corporate law. The program hosts multiple events throughout the year in Columbus and key financial centers. These events generate open and vigorous exchange about the leading problems and issues dealmakers face and are commonly co-sponsored by private organizations.
April 8, 2013
This is an invitation only event. April 8, 2013, 12:10 pm, Vorys Faculty Lounge Christie A. Hill ’86, Senior Vice President, General Counsel and Corporate Secretary, Dun & Bradstreet Corp. Chri ... ›› Read More
March 5, 2013
March 5, 2013, 12:10pm (invitation only) Raymond W. Perez, General Counsel, Division Manager, Corporate Services, Honda Manufacturing of Alabama, LLC Raymond W. Perez is General Counsel & Secretar ... ›› Read More
Professor Donald Tobin was quoted in a Bloomberg Businessweek article about a scandal caused by the Internal Revenue Service’s review of political nonprofit groups. IRS employees had used keywords such as "patriot" and "Tea Party" to flag groups for extra scrutiny. In March 2010 a surge in Tea Party activism had led groups to form across the country, and some applied to the IRS to become 501(c)(4) organizations or social welfare groups.
Tobin said the benefits of 501(c)(4) status mean that the IRS can’t simply look at the organization’s stated purpose.
“You’re trying to get behind what people are saying and make sure what people are saying is really the truth,” he said. “That can seem very invasive but at some point it needs some kind of information about the group to determine whether it’s valid or it’s not.”
Professor Donald Tobin was quoted in an NBC News article about the Internal Revenue Service's scrutiny on certain types of independent advocacy groups. Such groups were flagged by the IRS for further investigation for if they had names such as "Tea Party."
Tobin, an expert on how tax laws apply to political activity, explained that “the IRS is always in a very precarious position” in trying to enforce rules on 501(c)(4) organizations since “whenever a group is being investigated, it may complain that it is being done for political reasons.”
He went on, explaining that “the IRS needs some way of culling through the mass of information that they get” in order to figure out which groups need further scrutiny. “The IRS does need some sorting device.” But, he said, “I wish the IRS had looked for a neutral term like ‘party’ rather than ‘Tea Party.’”