January 23, 2011
Caplin & Drysdale Shifts Tax-Exempt Guns to NASCAR-RivalAfter filing complaints with the IRS challenging the tax-exempt status of college football bowl games, Marcus S. Owens (Caplin & Drysdale), the former head of the IRS's Exempt Organization Division, has filed this complaint with the IRS challenging the tax-exempt status of the National Hot Rod Association. NHRA's primary rivals, the National Association of Stock Car Auto Racing (NASCAR) and the International Hot Rod Association (IHRA), are both taxable entities.
- Caplin & Drysdale Press Release
- Caplin & Drysdale's IRS Complaint
- Forbes, Lawyer Asks: Why Is National Hot Rod Association Tax-Exempt?
- Washington Examiner, If It Walks Like a Duck and Talks Like a Duck ....
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If they have NASCAR as a client it could prove just a bit embarrassing . . .
Posted by: mike livingston | Jan 23, 2011 4:36:12 PM