CLASS RACER FORUM - The IRS and NHRA, you gotta see this.

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Re: The IRS and NHRA, you gotta see this.

on a lighter side , does this mean Obama becomes the official starter, and the F.B.I. takes over tech.

Re: The IRS and NHRA, you gotta see this.

The Lets Grab Cash (Light Gardner Compton) gang and others in the ivory tower should share their wealth with those NHRA folks working passionately where the rubber meets the road at the races during the season............. .

Re: The IRS and NHRA, you gotta see this.

this thing is all over the internet. Just google nhra and irs.

Re: The IRS and NHRA, you gotta see this.

I could see this adversely affecting us. If they are found to be ineligible to operate as a 501c then they just become a regular tax paying corporation right? Will an IRS ruling actually change their corporate governance? Accountability? I could see this playing out in such a way that in the end they are just looking for more revenue to cover their new expenses (corporate tax).
To me this may be a case of;
“Better the Devil you know than the one you don’t”

Re: The IRS and NHRA, you gotta see this.

Quote:

Originally Posted by Greg Hill (Post 234677)

Wonder when the pros and the sponsors are going to find out about this? There is an article in the Washington examiner.com today, an online Washington DC paper. I guess you really can't call it a paper. How do you all think the pros are going to feel about this?

If it all goes away (NHRA) could you imagine the pros all having to go out and actually get real jobs.I realize that some are business owners but I bet quite a few would be clueless in the current job market.

Re: The IRS and NHRA, you gotta see this.

Found this on google...

Same topic dated October 2000

http://groups.google.com/group/alt.a...2b32cb20fd8278

Re: The IRS and NHRA, you gotta see this.

I wonder if this has anything to do with the two new members of the board that were just added?

Re: The IRS and NHRA, you gotta see this.

There's actually a good article on CompetitionPlus about this, as they interviewed the attorney who stated that his client is an "amateur racer" and "longtime NHRA member". So, it appears that some sportsman racer finally got tired of all the "enhancements" we are receiving, and decided to take things into his own hands. According to the interview, this person also does NOT seek any financial reward as a whistle-blower.

Here's a link to the full article:

http://www.competitionplus.com/drag-...hra-tax-status

Re: The IRS and NHRA, you gotta see this.

Deleted,with apologies to the original author.

Re: The IRS and NHRA, you gotta see this.

Quote:

Originally Posted by Wade_Owens (Post 234543)

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

I sure can Wade, which is why I'm looking forward (even more so now) to tomorrows S.I.R. racer meeting. As per "Skooter Peaco" (Vice President of Race Operations for IHRA), there are other tracks that are looking forward to the aftermath of this meeting, because if S.I.R. does join IHRA, then it could entice other tracks to chime in as well (I'm certain one or more near to you also)? Although I've been involved with this sport for 36 years, these last two haven't provided me much to crow about (two div.'s and one "Jeg's" natl. event). If we weren't the ones paying for the lions share of their expenses (with our increased cost's of competition), I'd have been able to do more (like you and others who can relate).

I'm certain that Skooter Peaco, (the rest of the IHRA), and heck even the powers that be at NASCAR, will be watching to see how this all goes down as well???