CLSA obligations under federal laws
Posted: Sun Aug 24, 2014 12:01 pm
The quote below is from a knowledgeable tax law firm regarding the changes caused by revision to the tax laws in 2009. They affect CLSA. I and others have repeatedly raised this issue and in return, we are challenged and our loyalty to the association is questioned.
This is why these sequence of votes and BOD activities are so important. Every single one of us is entitled to a direct answer and the organization should not try to expel anyone who asks questions about how the organization is run.
I am entitled to know where my dues are going and what they are being spent on. I did not vote for secret meetings and to lawyer up the way the BOD did. What is going on?
"The purpose of the new Form 990 is to obtain substantial information on how tax-exempt organizations are operated; enhance transparency; and promote compliance by ensuring that Form 990 accurately reflects the organization’s operations and use of assets enabling the IRS to more efficiently assess any risk of noncompliance. Nonprofits should treat the preparation of the new Form 990 as if it were a compliance audit."
This is why these sequence of votes and BOD activities are so important. Every single one of us is entitled to a direct answer and the organization should not try to expel anyone who asks questions about how the organization is run.
I am entitled to know where my dues are going and what they are being spent on. I did not vote for secret meetings and to lawyer up the way the BOD did. What is going on?
"The purpose of the new Form 990 is to obtain substantial information on how tax-exempt organizations are operated; enhance transparency; and promote compliance by ensuring that Form 990 accurately reflects the organization’s operations and use of assets enabling the IRS to more efficiently assess any risk of noncompliance. Nonprofits should treat the preparation of the new Form 990 as if it were a compliance audit."