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Old 01-21-2011, 06:00 PM   #71
donc
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Default 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.
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Old 01-21-2011, 06:04 PM   #72
Mike Brogniez
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Default 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............. .
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Old 01-21-2011, 06:29 PM   #73
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Default Re: The IRS and NHRA, you gotta see this.

this thing is all over the internet. Just google nhra and irs.
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Old 01-21-2011, 06:34 PM   #74
Bill Edgeworth
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Default 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”
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Old 01-21-2011, 06:42 PM   #75
Ed Fernandez
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Default Re: The IRS and NHRA, you gotta see this.

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Originally Posted by Greg Hill View Post
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.
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Old 01-21-2011, 06:48 PM   #76
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Default 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
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Old 01-21-2011, 07:05 PM   #77
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Default 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?
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Old 01-21-2011, 07:05 PM   #78
Jason Oldfield
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Default 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
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Old 01-21-2011, 07:06 PM   #79
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Default Re: The IRS and NHRA, you gotta see this.

Deleted,with apologies to the original author.
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Last edited by Ed Fernandez; 02-02-2011 at 10:26 PM.
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Old 01-21-2011, 08:20 PM   #80
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Question Re: The IRS and NHRA, you gotta see this.

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Originally Posted by Wade_Owens View Post
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???
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