Latest News and Comment from Education

Wednesday, November 28, 2012

Education Foundation Or Estate Tax Dodge - Remains To Be Seen - Forbes

Education Foundation Or Estate Tax Dodge - Remains To Be Seen - Forbes:


Education Foundation Or Estate Tax Dodge - Remains To Be Seen

Seal of the United States Internal Revenue Ser...
Seal of the United States Internal Revenue Service. The design is the same as the Treasury seal with an IRS inscription. (Photo credit: Wikipedia)
Educational Assistance Foundation for The Descendants of Hungarian Immigrants in The Performing Arts, Inc. (EAFDHIPA ?)  A couple of times I have made up the names of not-for profits.  There is for example Southern Baptists Against Clergy Tax Abuse, a total figment of my imagination, although I did decide that a real person theReverend William Thornton would be its President.  EAFDHIPA - I could not have made up.  Of course I did not have to. EAFDHIPA is real.  It is currently in District Court fighting the IRS denial of its exempt status.
EAFDHIPA filed Form 990 for the years 2005 and 2006.  It took in over two million dollars in contributions and handed out a little over $200,000 in