[EL] FECA and corporate debt

[Trevor Potter]

The FEC has a "debt settlement process" that allows some arms-length forgiveness of debt, if the FEC procedures are followed. Without that, it would be an illegal corporate contribution.
Trevor Potter

Sent from my iPad

On Jan 26, 2012, at 6:25 PM, "Smithson, Charlie [LEGIS]" <charlie.smithson at legis.state.ia.us> wrote:

> Does FECA permit a corporation to "forgive" a debt a candidate owes it in the amount of $15,000?
> 
> _________________________
> Charlie Smithson
> Chief Clerk of the House
> (515) 281-4280
> @HouseChiefClerk
> _______________________________________________
> Law-election mailing list
> Law-election at department-lists.uci.edu
> http://department-lists.uci.edu/mailman/listinfo/law-election
> 

<- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ->
To ensure compliance with requirements imposed by the IRS,
we inform you that, unless specifically indicated otherwise,
any tax advice contained in this communication (including any
attachments) was not intended or written to be used, and
cannot be used, for the purpose of (i) avoiding tax-related
penalties under the Internal Revenue Code, or (ii)  promoting,
marketing, or recommending to another party any tax-related
matter addressed herein. 
 
This message is for the use of the intended recipient only.  It is
from a law firm and may contain information that is privileged and
confidential.  If you are not the intended recipient any disclosure,
copying, future distribution, or use of this communication is
prohibited.  If you have received this communication in error, please
advise us by return e-mail, or if you have received this communication
by fax advise us by telephone and delete/destroy the document.
<-->