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September 2010, Cover Stories, Sections
Bowl Games Face Tax Attack
The Associated Press has reported that the non-profit tax status of the BCS bowl games is being questioned as a result of paying excessive salaries and perks, providing "sweetheart loans" and doing undisclosed lobbying. Playoff PAC, a critic of the BCS, has made these allegations following a review of the tax filings for the BCS bowls and intends to file an IRS complaint.
The bowls operate as 501(c)3 charities, meaning their operations are tax-exempt and donations they receive are tax-deductible. Such groups may not operate for the benefit of private interests. To read more, click here.
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