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re: A $200,000. Church donation...
Posted on 11/11/10 at 1:38 pm to TheDoc
Posted on 11/11/10 at 1:38 pm to TheDoc
I think I will start a church. I'm going to name it: Church Assumption, St. Helena.
In an effort to save my parishoners time, they can just make the checks payable to C.A.S.H.
In an effort to save my parishoners time, they can just make the checks payable to C.A.S.H.
This post was edited on 11/11/10 at 1:39 pm
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Posted on 11/11/10 at 1:43 pm to theenemy
You are a retard. A 501(c)3 is a tax code, not a tax form. You can not file a 501(c)3. By the way, churches do have to file tax retruns. They file informational returns and they would have to declare this $200,000 donation. It is the IRS's business.
Posted on 11/11/10 at 1:44 pm to drob
quote:
You are a retard. A 501(c)3 is a tax code, not a tax form. You can not file a 501(c)3. By the way, churches do have to file tax retruns. They file informational returns and they would have to declare this $200,000 donation. It is the IRS's business.
Yeah, that dude just googled some shite like "do churches have to pay taxes" and repeated the first thing he saw.
Posted on 11/11/10 at 1:45 pm to oklahogjr
quote:
NCAA does what the frick they want. They don't need no laws on their side.
this is so true
Posted on 11/11/10 at 1:46 pm to beaver
and they proved all that- read the Sidney ruling from the NCAA and get back to me
Posted on 11/11/10 at 1:50 pm to theenemy
Uh junior, Section 501(c)(3) is a section of the Tax Code under which certain types of organizations are defined as non-profit organizations, it has nothing to do with filing of forms with the IRS to report revenue.
Posted on 11/11/10 at 1:52 pm to NorthshoreTiger76
people are over looking that. this isn't a court of law and some jury by peers where they need beyond reasonable doubt to hammer you. this is the ncaa they can work off assumptions and logic and drop the hammer and fighting them and making them get other things like the irs and fbi involved doesn't help. the best thing to do with the ncaa is if you did nothing wrong turn over what they want.
Posted on 11/11/10 at 1:52 pm to Ray Ray Rodman
quote:
Am I missing something?
Yes.
First, the NCAA is not a court or judicial system. If they believe something is fishy, they can simply rule the player ineligible. The rules of evidence are not even remotely similar to a court case.
Second, if he took $200,000 and put it in the church, do you think he really kept all of the money in the church.
If Cecil's salary went from $25,000 a year to $150,000 for one year, that would be all the NCAA would need to see.
We all have no idea what records have been given to the NCAA since they have no subpoena power I imagine anything given to the NCAA will show nothing.
I think there is fire, but I don't think the NCAA will be able to find it or prove it to the degree they need to rule Cam ineligible.
Someone on the inside will have to turn on Cam, just like the agent that Bush dumped turned on him. That will be after Cam is in the NFL and perhaps, forgets to pay off some of the people he promised to pay hush money too.
Posted on 11/11/10 at 2:01 pm to drob
quote:
They file informational returns and they would have to declare this $200,000 donation. It is the IRS's business.
Then why does the IRS Tax Guidelines for Chrches and Religious Organizations state:
"Every organization exempt from federal income tax under Internal Revenue Code section 501(a) must file an annual information return except:
A church, an interchurch organization of local units of a church, a convention or association of churches,
Posted on 11/11/10 at 2:03 pm to Boudreaux in SF
What form do they file to report donations?
Form 990--exempt
Form 990--exempt
Posted on 11/11/10 at 2:08 pm to theenemy
How it was explained to me. Churches only have to report donations to allow the people donating to claim them on their taxes.
Many churches do this but it is voluntary.
Maybe I am misunderstanding but this is what was told to me by a retired IRS investigator.
Many churches do this but it is voluntary.
Maybe I am misunderstanding but this is what was told to me by a retired IRS investigator.
This post was edited on 11/11/10 at 2:09 pm
Posted on 11/11/10 at 2:10 pm to GeauxTigersLee
quote:
The only thing that would need to be proven is the person/booster who gave the donation did not have a prior relationship and history of giving to that church. No prior history before the recruitment = case closed and AU in deep *&$#.
I dont care what happens either way, but I dont see how that proves shite. Just because the person never gave money before doesnt prove anything. How many churchs receive donations from people that have never given before? I'm sure ALOT!
Sure it smells but I dont see how that proves anything.
Not to mention, there is no way this gets resolved before Cam is in the NFL, so I dont see how it would matter at all to Cam or his father and what if any, they could do to Cam.
So the NCAA could put Auburn on probation without any real proof, is what some of you are telling me?
Posted on 11/11/10 at 2:10 pm to dapado33
Uhh did everyone miss that his dad is a CEO of a BUISINESS
Who says that are tax exempt and a church in the eyes of the law?
Who says that are tax exempt and a church in the eyes of the law?
Posted on 11/11/10 at 2:15 pm to Boudreaux in SF
quote:
This link should answer all your questions about 501(c)(3) tax exempt organizations.
LINK
Thats what I have been qouting.
I cannot find anywhere in it that provides what form should be filed for donations. Everything I find a church is exempt from it.
Posted on 11/11/10 at 2:16 pm to Vols22
quote:this. it is a reportable transaction when you get to $10k.
Message
Posted by Vols22
Form 8300: If a church receives $10,000 or more in cash (lump sum), it would need to be reported.
there is the possibility of some pretty severe civil and criminal penalties for non-compliance plus an audit by an Anti Money Laundering examiner.
This post was edited on 11/11/10 at 2:17 pm
Posted on 11/11/10 at 2:17 pm to theenemy
Form 990 Return of Organization Exempt From Income
Posted on 11/11/10 at 2:18 pm to drexyl
quote:
it is a reportable transaction when you get to $10k.
Im sure the $200,000 in donations was done in less than $10k installments.
Poof! That loophole was easy as sunday morning.
Posted on 11/11/10 at 2:19 pm to theenemy
Church that qualifies as an organization recognized under Section 501c3 is exempt from paying income tax, but still has to file an Information Return.
Posted on 11/11/10 at 2:22 pm to Boudreaux in SF
Guys, the NCAA is not going to really pressure the Church.. They will find out " WHO' Actually donated the church this large sum of money. When it gets back to a Auburn official or Auburn booster, thats when the sh#$ it going to hit the fan.
Because that person does how to file a tax report on their donations. Churchs are held responsible to in Tax donations. Just ask all the Big time ministers who went to Fed Pen for misapproation of funds in the church.
Low pro
Because that person does how to file a tax report on their donations. Churchs are held responsible to in Tax donations. Just ask all the Big time ministers who went to Fed Pen for misapproation of funds in the church.
Low pro
This post was edited on 11/11/10 at 2:25 pm
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