Nonprofit Alert
[Guest post by DRJ]
TaxProf notices a New York Times article that says up to 1/4 of nonprofit groups may lose their tax-exempt status this year:
“As many as 400,000 nonprofit organizations are weeks away from a doomsday.
At midnight on May 15, an estimated one-fifth to one-quarter of some 1.6 million charities, trade associations and membership groups will lose their tax exemptions, thanks to a provision buried in a 2006 federal bill aimed at pension reform. … “
H/T Instapundit.
— DRJ
Wierd…
EricPWJohnson (a0286d) — 4/26/2010 @ 6:32 pmAlluh Akbar …. many (a large percentage) non-profits are fronts for profit making enterprises and individuals lining their beds with golden feathers.
HeavenSent (a9126d) — 4/26/2010 @ 8:54 pmacorn has over 100 separate parts,under diferent 501 codes used to hide funds flow. filing tax forms would be revealing and might expose them to legal liabilities if they told the truth and maybe worse trouble if they tried a snow job.
clyde (e784a1) — 4/26/2010 @ 10:10 pmIn your wildest dreams acorn will not be left without an exemption.
SiliconDoc (7ba52b) — 4/27/2010 @ 12:04 amSame goes for the NYT, and all the libs 527’s, Sorros sponsored and otherwise, basically 48 of the top 50 in the nation on Opensecrets, down to the last illegally acting one.
On the other hand all Swift Boat and other such orgs can expect a certain budget death overeen by many of the 16,000 new IRS enforcers.
Greetings:
One of the things that has been rolling around my mind lately is the growth of the “non-profit” sector of our economy. It seem that the media is now much populated by foundations, NGOs as well as the more traditional non-profits.
Any book recommendations will be appreciated.
11B40 (12be16) — 4/27/2010 @ 9:49 am