Word: tax-exempt
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...size of a small city, the IRS is the second largest federal agency, after the Pentagon. It handles in excess of 200 million returns a year and sorts 1.2 billion pieces of information from 1,200 financial institutions. It reviews 60,000 employee-compensation plans and checks 90,000 tax-exempt organizations...
Some German officials argue that the whole fuss was cranked up by the Scientologists "to achieve what we won't give them: tax-exempt status as a religion. This is intimidation, pure and simple." Scientologists campaigned in the U.S. for years before receiving tax exemption in 1993, and Washington has not asked Bonn to grant...
...more reason that everybody in Washington is wondering whether Gingrich will still be Gingrich once the dust settles. After two years of denying that he had done anything wrong, the Speaker admitted in December that he had failed to seek proper legal guidance before using contributions to his tax-exempt foundation to finance a college lecture course, one that even he said was aimed at the partisan goal of electing a G.O.P. Congress. He also admitted turning in false information to committee investigators...
...royalties he is reported to have earned on To Renew America, the 1995 book for which he was originally offered an improbable $4.5 million advance. The New Republic points out this week that the book leans heavily on copyrighted materials developed for Newt's college course by the tax-exempt group that is at the center of his current problems...
That could well be a violation of irs rules that prohibit tax-exempt organizations from transferring assets to private individuals. It also calls into question Gingrich's claim that he's no Jim Wright--the Democratic Speaker whose ouster he spearheaded--because he never sought to line his own pockets. After taxes, his royalties would have stuffed his pockets with something like $300,000--the amount of his fine. Maybe he should hand it over. If nothing else, it would prove that even when you can't count on the rule of law in Washington, there's always poetic justice...