The IRS and NHRA, you gotta see this. - Page 16

Bob Pagano · 02-01-2011, 08:56 PM

I am for that, an "Enema Out The Door"

novassdude · 02-01-2011, 10:09 PM

I love how their only response is we were granted tax exemption years ago. They seem to think that allows them to do anything they want and all is good because the IRS Ok’ed them in the 50’s. They are a far cry from what they were doing in the 50’s when they got the exemption.

bill dedman · 02-03-2011, 03:15 AM

I have, for the last few years, hoped and prayed that "60 Minutes" would get wind of what goes on at NHRA and do an expose'.... Maybe with all this media attention, it could actually happen..

And, then I woke up....

BlueOval Ralph · 02-03-2011, 08:13 AM

In any of the Tax returns has any picked up if NHRA is showing as Income or it value the Free Cars, Trucks, Trailers, Motorcycles, and any other products (radios & ect)? Next question is do they (NHRA) issue 1099 to the employess that have use of the vehicles (Cars & Trucks) ???????????????

Quote:

Originally Posted by Greg Hill

This thing is not going away. It is being picked by the mainstream media in a big way. Google NHRA and IRS and you will find out that the AP has picked this story up and it's all over the place. Some of the media outlets that are running the story are LA Times, San Jose Mercury, Amarillo Globe News, Indianapolis NBC affiliate, CNBC, San Diego Union Tribune, CBS Sports.com, Washington Times, Coos Bay World, ESPN.com,Charlotte Observer, Fox Sports.com, newser.com, Minneapolis-St.Paul Star Tribune, Forbes Magazine. How long will it be before some enterprising reporter really digs into this and finds out what the scoop is? This is really going to get interesting.

CycloneFE · 02-03-2011, 08:58 AM

If NHRA is a "not for profit" Organization, then aren't the entry fees and enhancements tax deductable?

art leong · 02-03-2011, 09:04 AM

Quote:

Originally Posted by CycloneFE

If NHRA is a "not for profit" Organization, then aren't the entry fees and enhancements tax deductable?

LOL. nhra is definetly not a charitable organization.

Greg Hill · 02-04-2011, 07:03 PM

Good article in the Las Vegas Journal Review by Jeff Wolf on this very subject. He calls for Gardner and Compton to resign and put the interests of racers ahead of their own financial interests.

FED 387 · 02-04-2011, 07:15 PM

Not really sure what will happen but it definately is not gonna go away if you read the news articles---But we shall see--Comp

Spencer · 02-04-2011, 07:21 PM

Link:

http://www.lvrj.com/sports/force-hoo...115263129.html

02-01-2011, 08:56 PM	#151
Bob Pagano VIP Member Join Date: Jun 2002 Location: New Holland, PA Mooresville,NC Posts: 1,163 Likes: 238 Liked 16 Times in 11 Posts	Re: The IRS and NHRA, you gotta see this. I am for that, an "Enema Out The Door" __________________ Bob Pagano A/SA

02-01-2011, 10:09 PM	#152
novassdude Senior Member Join Date: Mar 2002 Location: usa Posts: 752 Likes: 204 Liked 136 Times in 49 Posts	Re: The IRS and NHRA, you gotta see this. I love how their only response is we were granted tax exemption years ago. They seem to think that allows them to do anything they want and all is good because the IRS Ok’ed them in the 50’s. They are a far cry from what they were doing in the 50’s when they got the exemption.

02-03-2011, 03:15 AM	#153
bill dedman VIP Member Join Date: Feb 2002 Location: Conway, AR Posts: 1,739 Likes: 0 Liked 6 Times in 4 Posts	Re: The IRS and NHRA, you gotta see this. I have, for the last few years, hoped and prayed that "60 Minutes" would get wind of what goes on at NHRA and do an expose'.... Maybe with all this media attention, it could actually happen.. And, then I woke up.... __________________ Bill

02-03-2011, 08:58 AM	#155
CycloneFE Senior Member Join Date: Feb 2007 Location: Decatur Illinois Posts: 634 Likes: 0 Liked 2 Times in 2 Posts	Re: The IRS and NHRA, you gotta see this. If NHRA is a "not for profit" Organization, then aren't the entry fees and enhancements tax deductable? __________________ Steve Jackson

02-04-2011, 07:03 PM	#157
Greg Hill VIP Member Join Date: May 2006 Location: Louisville , KY Posts: 1,995 Likes: 68 Liked 279 Times in 68 Posts	Re: The IRS and NHRA, you gotta see this. Good article in the Las Vegas Journal Review by Jeff Wolf on this very subject. He calls for Gardner and Compton to resign and put the interests of racers ahead of their own financial interests. __________________ Greg Hill 4171 STK

02-04-2011, 07:15 PM	#158
FED 387 VIP Member Join Date: Jun 2006 Posts: 3,416 Likes: 521 Liked 330 Times in 178 Posts	Re: The IRS and NHRA, you gotta see this. Not really sure what will happen but it definately is not gonna go away if you read the news articles---But we shall see--Comp

02-04-2011, 07:21 PM	#159
Spencer Junior Member Join Date: Jul 2007 Location: McKinney , Texas Posts: 16 Likes: 3 Liked 0 Times in 0 Posts	Re: The IRS and NHRA, you gotta see this. Link: http://www.lvrj.com/sports/force-hoo...115263129.html __________________ Paul Spencer 2711 SS/BS