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To: UCFRoadWarrior

What I have learned is that economists and weathermen go to the same schools and those that can add are graduated as weathermen and the rest are awarded the economist degree.


5 posted on 12/24/2008 7:17:37 AM PST by JayAr36 (Government the Culture of Corruption)
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To: All
POINTS TO PONDER The IRS has asserted that tax-exempt non-profits ("foundations and charities") are the locus classicus for IRS fraud.

Madoff was assiduously courted by numerous so-called "non-profits," tax-exempt charities, and family foundations either as outright investors, or through hedge funds. We have to ask why the tax-exempt landscape is littered with these "foundations and charities."

Apparently Brooklyn, NY residents registered some 800 tax-exempts with hundreds of millions in assets in Lakewood-----a small flea-bitten central New Jersey town. SOURCE http://www.taxexemptworld.com/organizations/lakewood_nj_08701.asp

The IRS has tagged tax-exempt non-profit "charities and foundations" as the locus classicus for IRS fraud. But non/profits are legally entitled to raise tax-exempt funds. How does tax evasion play into this?

NON-PROFIT TAX EVASION 101---a zillion ways to play the tax evasion game.

BUSINESS DONORS Keep in mind that many donors have highly profitable businesses upon which taxes must be paid----these taxable monies could be taken out of the businesses in various sub rosa schemes to evade taxes and US banking laws: Phony line items listing fake vendors, admin fees, legal fees, building fees, phantom employees. Wire transfers to dummy companies.

There's also the suitcase full of cash trick----island-hopping trips to friendly banks (necessitates buying a whole new wardrobe after the bank visit).

DONATIONS IN THE HANDS OF N/P The n/p scams would take 25 single-spaced typed pages to outline. However, most used is: (1) the "charity or foundation " takes a cut of the "donation" then wire transfers the bulk offshore for the donor's use later. (2) One "charity or foundation" donates to another "charity or foundation" ---- a HUGE money laundry scheme. The receivers of the donation launder the money, so that the donor can retreive it later. Can also evade FEC regs by laundering the tax-exempt donation into campaign accounts.

6 posted on 12/24/2008 7:57:50 AM PST by Liz (The right to be left alone is the beginning of freedom. USSC Justice William O. Douglas)
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