Native Floridian
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- Joined
- Mar 12, 2012
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- Ft Myers, Florida
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- #101
Thread Owner
I watched FOX last night after the baseball game. The Phillies as usual had no offense. But at least the pitching was bad!
So i tune in Greta van Sustern. i like Greta, even though she's turned right wing schill. Everyone's gotta eat!
Greta's show last night was a round robin of the big three "Obama scandals"
She started with AP and quickly over to the IRS.
After watching this I can understand why some of you steadfastly hold on to misinformation and falacies.
Greta interviewed two 501(c) (4) org leaders to get to the bottom of the IRS mess!
First up the leader of the Richmond TEA party
Greta: So the IRs held up your application status making impossible for your donors to contribute annonymously?
leader: That's correct Greta.
No it's not! The ability to donate annonymously comes with C4 incorporation. To apply to the IRS for exempt status as (c)(4) you first have to establish a (c)(4). Once incorporated you can solicit annonymous donations. Those donations are tax exempt to the corp as long as no members profit. tax exemption is taken via form 990.
Leader number two was the head of a 501(c)(4) named Z STREET.
Greta: The IRS has delayed your application impeding your ability to raise money by making it impossible for your donors to make tax deductable donations?
leader: Yes
The correct answer is no. 501(C)(4) orgs are not charities. Donations to them are not tax deductable in most instances. ( if the org has a c3 corp with in the c4 donors could deduct contributions to that c3) Regardless, filing for tax exempt status has no effect.
I've paraphrased the above conversations. These questions were answered in the affirmative that the IRS impeded these orgs ability to operate. Which is not true. There is no debate that the IRS has delayed their aps. However, what are we to think here? Do these people not understand the nuances in within the tax code that affects their orgs? Are they that uninformed? Or are they just playing the misinformation game to enflame their base? That we have to decide for ourselves.
So i tune in Greta van Sustern. i like Greta, even though she's turned right wing schill. Everyone's gotta eat!
Greta's show last night was a round robin of the big three "Obama scandals"
She started with AP and quickly over to the IRS.
After watching this I can understand why some of you steadfastly hold on to misinformation and falacies.
Greta interviewed two 501(c) (4) org leaders to get to the bottom of the IRS mess!
First up the leader of the Richmond TEA party
Greta: So the IRs held up your application status making impossible for your donors to contribute annonymously?
leader: That's correct Greta.
No it's not! The ability to donate annonymously comes with C4 incorporation. To apply to the IRS for exempt status as (c)(4) you first have to establish a (c)(4). Once incorporated you can solicit annonymous donations. Those donations are tax exempt to the corp as long as no members profit. tax exemption is taken via form 990.
Leader number two was the head of a 501(c)(4) named Z STREET.
Greta: The IRS has delayed your application impeding your ability to raise money by making it impossible for your donors to make tax deductable donations?
leader: Yes
The correct answer is no. 501(C)(4) orgs are not charities. Donations to them are not tax deductable in most instances. ( if the org has a c3 corp with in the c4 donors could deduct contributions to that c3) Regardless, filing for tax exempt status has no effect.
I've paraphrased the above conversations. These questions were answered in the affirmative that the IRS impeded these orgs ability to operate. Which is not true. There is no debate that the IRS has delayed their aps. However, what are we to think here? Do these people not understand the nuances in within the tax code that affects their orgs? Are they that uninformed? Or are they just playing the misinformation game to enflame their base? That we have to decide for ourselves.
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