Books and other stuff I feel like discussing
By education and experience - Accountant with a specialty in taxation. Formerly a CPA (license has lapsed). Masters degree in law of taxation from University of Denver. Now retired. Part time work during baseball season as receptionist & switchboard operator for the Colorado Rockies. This gig feeds my soul in ways I have trouble articulating. One daughter, and four grandchildren. I share the house with two cats; a big goof of a cat called Grinch (named as a joke for his easy going "whatever" disposition); and Lady, a shelter adoptee with a regal bearing and sweet little soprano voice. I would be very bereft if it ever becomes necessary to keep house without a cat.
Mood:
Musing
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Tax Exemptions
I worked for years in public accounting. From about 1980 or so until I retired in the fall of 2002, I worked in tax departments of smallish CPA firms. I've long since let my license lapse, without a full time employer footing the bills for continuing education requirements, maintaining a license is too expensive. I still work four or five months of the year in the tax office owned and operated by a friend I met when she and I worked for the same firm in the early 1990's. I also studied for and received a Master's degree in the law of taxation from the University of Denver.
I don't hold myself out as any kind of an expert in anything related to taxation, but I've been reading the news of late with interest.
I'm only familiar with Colorado law. Here a corporation can apply for non-profit status with the State, but will need to go through an additional process of applying for tax exemption under Federal law. Basically, the federal regulations are written in such a way to grant tax exemption to organizations which exist for a specific purpose, and are not designed to provide private enrichment for an individual or group of individuals.
The application process can be time consuming and complex. In my view, the process SHOULD be time consuming and complex. My reaction to the recent spate of news articles is not concern over some groups getting extra attention. My concern is on the flip side - how many organizations are having their applications slide successfully through the process without the appropriate amount of attention paid to them?
If any specific type of organization is receiving detailed, careful, and expert attention, that's appropriate. Tax exemption is a privilege, not something that should be taken for granted. What's not appropriate is letting attention slide for every other type of organization.
I almost never comment on politics, but my hackles have been raised a little by recent news articles. At the root of all the problems the public perceives with the IRS is the failure of Congress to fund its operations sufficiently. At the root of the failure to fund the operation is the unwillingness of the American public to pay for services it wants and needs.
Rant mode off!
I feel compelled to add the standard disclaimer you will read at the bottom of any email you receive from a tax advisor. The above comments do not represent tax advice and cannot and should not be relied upon in any tax issue.
I don't hold myself out as any kind of an expert in anything related to taxation, but I've been reading the news of late with interest.
I'm only familiar with Colorado law. Here a corporation can apply for non-profit status with the State, but will need to go through an additional process of applying for tax exemption under Federal law. Basically, the federal regulations are written in such a way to grant tax exemption to organizations which exist for a specific purpose, and are not designed to provide private enrichment for an individual or group of individuals.
The application process can be time consuming and complex. In my view, the process SHOULD be time consuming and complex. My reaction to the recent spate of news articles is not concern over some groups getting extra attention. My concern is on the flip side - how many organizations are having their applications slide successfully through the process without the appropriate amount of attention paid to them?
If any specific type of organization is receiving detailed, careful, and expert attention, that's appropriate. Tax exemption is a privilege, not something that should be taken for granted. What's not appropriate is letting attention slide for every other type of organization.
I almost never comment on politics, but my hackles have been raised a little by recent news articles. At the root of all the problems the public perceives with the IRS is the failure of Congress to fund its operations sufficiently. At the root of the failure to fund the operation is the unwillingness of the American public to pay for services it wants and needs.
Rant mode off!
I feel compelled to add the standard disclaimer you will read at the bottom of any email you receive from a tax advisor. The above comments do not represent tax advice and cannot and should not be relied upon in any tax issue.
Read/Post Comments (3)
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