Lu Gauthier Issues Warning About Information Returns
Lu Gauthier has given me permission to publish his email blasts. This one is particularly important. Many business owners are not aware of how many vendors they need...
Citizens United Fighting To Keep Dark Money As Dark As Possible Loses To NY AG
In addition to the IRS exempt organizations that solicit money are also regulated by the states where they raise money. There are various filings required, sometimes much more rigorous than what the IRS requires. As part of the package though, they will usually want a copy of the Form 990 that the organization files with the IRS. That’s the way it is in Massachusetts anyway and apparently in New York too. CU had been sending the New York AG its 990 since 1995. They had not been including Schedule B and nobody seemed to mind. The Charities Bureau conducted a survey of its operations in 2012 and noticed that certain organizations were not including Schedule B with annual reports. The AG implemented an across-the-board initiative to identify and notify the organizations that had not been filing Schedule B with their state reports. In April 2013 the CU organizations were notified that their filings were incomplete.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.