December 12, 2012 |
WASHINGTON - The push by states to force politically active nonprofits to disclose their financial backers ratcheted up Wednesday as New York's attorney general proposed tough rules that could require many such tax-exempt groups to publicly report their political budgets and donors. The regulations, which Atty. Gen. Eric T. Schneiderman plans to issue in spring after a public comment period, could affect some of the biggest outside groups that engage in federal political campaigns, including Americans for Prosperity, the League of Conservation Voters, the National Rifle Assn.
August 14, 2012 |
A California state auditor's report shows that nonprofit hospitals have significant leeway in determining how much charity care they provide to the neediest patients. A state Senate committee will discuss that issue and others at a hearing Wednesday as part of the debate over whether nonprofit hospitals do enough to justify their tax-exempt status. Critics have said some nonprofit hospitals skimp on charity care while amassing large reserves and paying hefty salaries to executives.
May 15, 2012 |
WASHINGTON - Advocacy groups spending millions of dollars to influence the 2012 election now face the prospect of having to reveal their secret donors, after a federal appellate court panel refused to block a lower-court order requiring the disclosure. In a 2-to-1 decision issued Monday evening, a U.S. Court of Appeals panel here declined to stay a ruling by a federal judge requiring tax-exempt organizations that run election-related television ads to disclose their donors. The panel's decision was a significant victory for campaign finance reform advocates who have been fighting against the deluge of money - much of it from undisclosed donors - that has flooded the political landscape in the wake of several Supreme Court decisions, including the 2010 Citizens United case.
November 8, 2011 |
Top conservatives are suggesting that super-committee Republicans are considering raising revenue by doing away with certain tax loopholes and personal deductions in exchange for keeping individual tax rates at or below the levels enacted during the President George W. Bush era. A GOP congressional aide said such proposals are in the realm of possibility as Republicans continue discussing options for meeting the committee's Thanksgiving deadline of...
October 18, 2011 |
Jewish mysticism is the spiritual bedrock of the Kabbalah Centre, but its finances are built on real estate investments, donations and the marketing of religious books, classes and merchandise. As a tax-exempt religious organization, the center is not required to disclose any aspect of its finances, which are under investigation by the IRS. But public records, lawsuits and a former high-ranking employee's resume all provide glimpses of its balance sheet and business dealings. An online resume posted by Nelson Boord Jr., a former chief financial officer who left the center in 2009, said it had annual revenue of $60 million, a $60-million investment fund and $200 million in real estate holdings around the world.
September 29, 2011
On Sunday, hundreds of preachers are expected to celebrate something called "Pulpit Freedom Sunday" by sermonizing about the moral qualifications of candidates for public office. The event is organized by the Alliance Defense Fund, a Christian legal organization. The alliance is offering legal representation to clergy whose remarks might run afoul of the prohibition of politicking by churches. It's a challenge the Internal Revenue Service should take seriously. Under the law, not only churches but other so-called 501(c)
September 26, 2011 |
Reporting from Sacramento California Treasurer Bill Lockyer on Tuesday will ask a state panel that hands out sales tax exemptions to renewable energy manufacturers to suspend the program in the wake of the Solyndra scandal. Lockyer, who heads the panel, said he will ask fellow members of the California Alternative Energy and Advanced Transportation Financing Authority at a meeting to not approve any new applications for tax exemptions. The program is aimed at encouraging the purchase of equipment used to make solar panels and other energy-saving projects.
CALIFORNIA | LOCAL
August 28, 2011 |
The Internal Revenue Service is auditing more than $400 million in tax-exempt bonds issued by the city of Vernon in 2009, marking the third major investigation of the troubled city in the past year. The IRS notified the city this month that it had obtained information that "causes a concern that the debt issuance may fail one or more provisions" of the Internal Revenue Code, according to a document released by the city. The IRS declined to comment, and city officials said they haven't been briefed on the probe's specifics.
March 23, 2011 |
This New York City suburb has seen its share of famous residents ? Tony Bennett, Dizzy Gillespie and Sarah Jessica Parker among them. But it is the one who has never been seen who commands the most attention: Moammar Kadafi, Libyan leader and lord of a multimillion-dollar mansion that flies Libya's flag and sits next door to one very peeved Orthodox Jewish rabbi. Rarely has the stone-walled structure, with expansive grounds, pond and swimming pool, been the placid retreat the Libyan government envisioned when it paid $1 million for it in 1982, six years before Libyan agents blew up Pan Am Flight 103. The estate, called Thunder Rock, has been a flash point for years for local protests, most recently in 2009 when Kadafi lost a battle to erect his traveling Bedouin tent on the lawn during a U.S. visit.
September 29, 2010 |
A senior Democratic senator asked the IRS Wednesday to investigate third-party groups he says are manipulating tax-exempt status for political gain. Since the Supreme Court's ruling on Citizens United vs. the FEC, political spending by such outside groups has exploded. Democrats have long said that because such spending has favored Republican candidates, the party's advantage in fundraising over Republican counterparts has been neutralized. Wednesday's move by Max Baucus (D-Mont.