Scandal puts spotlight on tax loopholes

The Financial Times reports the scandal surrounding the IRS’ heightened scrutiny of conservative groups has taken yet another twist.

Questions are now swirling around the exempt status of a number of groups that include one of the more prominent backers of the President’s political agenda.

Read: IRS in hot seat for targeting conservative groups

“The revelation this month that the IRS improperly singled out Tea Party groups for scrutiny when they applied for tax exempt status has ignited a debate in Congress about whether groups such as Organizing for Action, which has close ties to the White House, and Crossroads GPS, co-founded by Karl Rove, the Republican policy adviser, have been able to insulate themselves from traditional campaign rules because of loopholes in the nation’s tax laws,” the report says.

Read the rest here.

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