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re: **Cam Newton investigation UPDATED Page 1 - 11/5, 1:30am**
Posted on 11/6/10 at 8:49 am to BMW7SERIES
Posted on 11/6/10 at 8:49 am to BMW7SERIES
quote:
this is much ado about nothing. there's no substance to it.
if father newton would be candid with where his church got their money, it would end in a heartbeat. since he apparantly is acting in bad faith, it will live and maybe grow. he has the power to stop this. he knows where that money came from and if it was honest, it could easily be proved. people write checks to non-profits for the tax deduction. they DO NOT GIVE CASH. the IRS stopped that a few years ago. it is also a REQUIREMENT that the church give any donar over a certain limit (i think it $250 or close) a statement IN WRITING acknowledging the donation and that is the basis for the tax deduction. my chuch gives me one every year and they started doing it when the IRS required it. so, you can bury your head in the sand all you want to, but mr. newton is at fault for what is or might happen to auburn university. ya'll should be demanding him to be accountable.
Posted on 11/6/10 at 8:58 am to LSU GrandDad
Posted on 11/6/10 at 9:14 am to LSU GrandDad
quote:
they DO NOT GIVE CASH. the IRS stopped that a few years ago. it is also a REQUIREMENT that the church give any donar over a certain limit (i think it $250 or close) a statement IN WRITING acknowledging the donation and that is the basis for the tax deduction. my chuch gives me one every year and they started doing it when the IRS required it.
The tax law has also required, for many, many years, that everyone who has income from whatever source declare it on a tax return and to the extent that net income exceeds certain minimum amounts, to pay tax on it. How's that working out with the "underground economy"? Just because the law requires it doesn't mean that either the donor or the donee is going to create a public record to trace what could readily be identified as an illegal bribe.
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