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EMD-76-2 1 (1976-07-16)

handle is hein.gao/gaobaabkg0001 and id is 1 raw text is: 2~/\) /9K I I. ~:) ~s7-~l2 f ~> ~? fc~u REPORT OF THE COMPTROLLER GENERAL OF THE UNITED STATES oqq3zq \\\\\ Auditing Of Political Advertising By Electric Utilities And Gas And Oil Companies Federal Power Commission Internal Revenue Service Political advertising by electric utilities and natural gas and oil companies can affect legis- lation and influence public opinion to the benefit of companies' owners. The Federal Power Commission has regula- tions designed to make owners of companies under Commission jurisdiction, rather than the consumer, bear the cost of such advertise- ments. The Commission, however, could do more to insure that consumers are not required to pay for political advertisements. The Internal Revenue Service also requires special treatment of political advertising costs by prohibiting inclusion of such costs as a normal operating expense for income tax purposes. GAO was unable to evaluate the method used by I RS to insure that such costs were properly treated because I RS refused access to its records. E MD-76-2 JULY 16,1976 0q3_ f2~ C ~~~1 0 q32 1