Posts Tagged ‘Nonprofit Business Taxes’

IRS Scrutinizes Higher Education’s Business

Tuesday, December 13th, 2011

The IRS is busy scrutinizing the hallowed halls of higher education. A recent article written by Michael McDonald of Bloomberg News, reports on IRS’ stepped up enforcement of non-profit colleges and universities across America to properly report income from all revenue streams. The American academic community is seeing first-hand the strong arm tactics of the IRS including the beloved Harvard University and the hotel it owns overlooking the Charles River.
Universities
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Posted in 365 Ways to Keep the IRS at Bay, Ask the Expert, IRS Tax Cases, IRS Times and Inquirer, Tax news and tips | No Comments »

Nonprofits Need To Pay Taxes Too!

Monday, September 29th, 2008

Michael W. Slayton, 49, of Tecumseh, Kan., was sentenced to one year in prison.  The former director of operations of Designs 4 Life, a nonprofit created to assist families requiring in-home care, pleaded guilty to one count of tax evasion.
From 1999 to 2004, he embezzled $238,097 from Designs 4 Life. He wrote 138 checks to himself and fraudulently avoided paying a total of $44,478 in taxes.
Tax Fraud is not good
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Posted in IRS Tax Cases, IRS Times and Inquirer, Seeking Professional Tax Help | No Comments »