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#1 |
Junior Member
Join Date: Jun 2010
Location: Mt. Waashington, Ky.
Posts: 28
Likes: 0
Liked 0 Times in 0 Posts
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#2 |
VIP Member
Join Date: Feb 2009
Location: Dunnellon,FL
Posts: 1,103
Likes: 0
Liked 4 Times in 4 Posts
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Hot Dam! This will be interesting!
JimR
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Jim Rountree |
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#3 |
Member
Join Date: Mar 2006
Location: Michigan
Posts: 312
Likes: 1
Liked 134 Times in 32 Posts
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Not really. The NHRA is non profit because all of the profit is distributed to the officers and workers. They pay the income taxes based on their individual situation. The IRS is only interested in collecting taxes and they will investigate to make sure all of the taxes have been paid. I'm sure the NHRA is using excellent tax accountants and attorneys. The IRS is like the police, they must investigate any complaint. Don't hold your breath for anything to change with the NHRA. Just my 2 cents.
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#4 |
Senior Member
Join Date: Dec 2002
Location: Lincoln, Nebraska
Posts: 785
Likes: 45
Liked 316 Times in 67 Posts
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Enron had excellent lawyers and a now defunct national accounting firm helping them right into obivilon
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#5 |
Member
Join Date: Oct 2003
Location: Sheboygan Wi
Posts: 391
Likes: 0
Liked 6 Times in 2 Posts
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Theres an old saying, Becareful what you wish for ! We might not have a place to race at other than IHRA, which would be alright too, I just happen to like NHRA !..........John
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John Lang 365 STK, SS |
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#6 |
Senior Member
Join Date: Mar 2002
Location: usa
Posts: 752
Likes: 204
Liked 136 Times in 49 Posts
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I had seen that they were investigated before and passed. But I think this time their attempt to sell it off as a business (with them still staying and running it) Is the thing that will bring them down. With any luck it will bring down the players and not the organization.
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#7 | |
Veteran Member
Join Date: May 2006
Location: Murfreesboro TN
Posts: 5,105
Likes: 1,564
Liked 1,789 Times in 408 Posts
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If that was the definition of a non profit, my own business could qualify to be a non profit. I'm betting the IRS would laugh in my face as they took every thing I ever had.
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Alan Roehrich 212A G/S |
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