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IRS Ends Investigation Into Gifts to Non-Profit Political Groups

The Internal Revenue Service is dropping an inquiry involving five U.S. taxpayers who made gifts to a type of nonprofit group used in recent elections to underwrite advertising and other political expenses.

The IRS, which said yesterday it was ending the probe, had sought to determine if the five taxpayers owed gift taxes for donations to nonprofit groups organized under section 501(c)(4) of the U.S. tax code. The IRS didn’t identify the donors.