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-   -   The IRS and NHRA, you gotta see this. (https://classracer.com/classforum/showthread.php?t=30987)

RacingRicki 01-20-2011 08:37 PM
Re: The IRS and NHRA, you gotta see this.
 
Quote:
Originally Posted by Julie Jordan (Post 234504)
"Bogus" non profits cost the Federal government money...tax dollars. So, assuming this letter triggers an investigation and NHRA loses its tax exempt status then it would become a tax paying entity. Like someone said before, taxes are an expense of the organization and would surely not be absorbed but would be passed along in further fee increases.
I agree and as much as I hate to see these huge salaries come at our expense, it can only get worse.

X-TECH MAN 01-20-2011 09:00 PM
Re: The IRS and NHRA, you gotta see this.
 
Greg.....Drag racing is a non profit buisness (for most)......LOL.

Alan Roehrich 01-20-2011 10:02 PM
Re: The IRS and NHRA, you gotta see this.
 
This is not about how much the board make, folks. It's not about the fact the NHRA makes a profit. It's about how the organization is structured and how it operates.

Read the brief/complaint as it was filed, and remember that the guy who filed it, held the job of the woman who the complaint was filed with, for ten years. He's not just "taking a shot", he knows what he's doing.

RacingRicki 01-20-2011 10:46 PM
Re: The IRS and NHRA, you gotta see this.
 
Sounds like maybe Mr. Anonymous is looking to cash in with the IRS under their whistle blower policy.

Wade_Owens 01-20-2011 10:48 PM
Re: The IRS and NHRA, you gotta see this.
 
Quote:
Originally Posted by X-TECH MAN (Post 234464)
And you guys and girls just keep shoving the $$$$$$$$$$$$$$$ at them every year, every race, and dont even get kissed ! LOL I love it.
Terry, I have great respect for you, as well as many others on this board. You guys were fortunate enough to have lived the heyday, I was not. You guys have made 1000's of passes to my 100's. But, I built my car to travel with and compete, not to sit in the garage. If I had 30 years of Stock Eliminator racing under my belt, I may feel the same way. I dont agree with the increases, double standards, afhs as well as several other things. I'm not going to bracket race locally and I dont have the IHRA alternative at this moment.

If NHRA is operating illegally, we, the racers, can only hope for the best of what will happen. I dont want them to fold, pass on more increases, etc. But, I do want to race and will continue to as money allows.

You can see where I'm coming from, cant ya?

Wade O

Alan Roehrich 01-20-2011 11:32 PM
Re: The IRS and NHRA, you gotta see this.
 
Quote:
Originally Posted by RacingRicki (Post 234542)
Sounds like maybe Mr. Anonymous is looking to cash in with the IRS under their whistle blower policy.
Somehow I doubt it.

RacingRicki 01-20-2011 11:46 PM
Re: The IRS and NHRA, you gotta see this.
 
Really. What else could motivate someone to file such a complaint.

Chad Rhodes 01-20-2011 11:50 PM
Re: The IRS and NHRA, you gotta see this.
 
Quote:
Originally Posted by RacingRicki (Post 234556)
Really. What else could motivate someone to file such a complaint.
a disgruntled racer perhaps?

Alan Roehrich 01-20-2011 11:52 PM
Re: The IRS and NHRA, you gotta see this.
 
Quote:
Originally Posted by RacingRicki (Post 234556)
Really. What else could motivate someone to file such a complaint.



Seriously?

Have you looked closely and carefully at how NHRA has been run for the last 30 years or so?


You think monetary compensation is the only reason anyone would want to see something done about that?

novassdude 01-21-2011 12:43 AM
Re: The IRS and NHRA, you gotta see this.
 
My hope is that the outcome of the investigation results in a changing of the guard back to people that are doing it for the love of the sport.

If it were to be deemed a for profit who would become the owner?


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