Senate Democrats refer NRA for IRS investigation into Russia ties

Senate Majority Leader Chuck Schumer (D-N.Y.) and Finance Committee chair Ron Wyden (D-Ore.) on Wednesday formally requested that the IRS investigate the National Rifle Association for potential violations of tax law related to its interactions with Russian nationals.

The big picture: A report by Democrats on the Senate Finance Committee alleged that the NRA acted as a Russian asset in 2016 by offering a promise of access to elected U.S. officials in exchange for business deals. The revelations raise questions about whether the NRA could lose its tax-exempt status, as tax exempt organizations are not allowed to use funding to personally benefit their officials or for actions significantly outside their stated mission.

Go deeper: The findings from Senate Democrats' report on the NRA