White house as to what of going on with say this report. Youre not aware of what took place there . So in terms of the ig report, i have no idea what, if anything, was reported to the white house. The visit that i had with mr. Wuerffel was to give his 30day report to the president. Again, what your activity was reported to wuerffel where you were in the investigation and compiling for congress, you werent aware of it being transmitted beyond him . No. Okay. Thank you. We now go to the gentlelady from new york. Miss maloney. Thank you. I regret i was not able to join you last night for the hearing. We had a Financial Services committee or rather a bill on the floor that i had been working on and we were in debate on the floor. I just wanted to make a brief statement about the hearing that we had last night on the overall irs and this whole irs mess seems to flow directly from confusion over just how the irs should enforce a law that was passed by this congress that gives tax exempt stat
501c4s do not get 100 deduction. Youre not tax. Not at all . Not a penny. They are tax exempt in the money they receive from taxpayers who have paid their taxes and give them after tax income, they dont count it as profit. They simply spend it on their baffle but they are not tax deductible the way a charity is. Its a very significant difference. It is one of the reasons they can do up to half of their activities in these. These are social welfare groups, not charities. But theyre social welfare groups and they dont get a Tax Deduction. Of . When you give to a 501c4, you do so without a Tax Deduction. It is taxable. You give your after tax. Its the same kind of deduction you get when you receive a political campaign. Your donors pay their taxes and give you after tax income. It is not a charity. Not at all. Well, i stand corrected. I thought 501c4s had a tax treatment that was favorable to them. And i was saying why not just have a rule that no one gets a Tax Deduction that gets involv
Would my colleague yield . Absolutely. At last nights hearing it was established that the irs has had over 800 million cuts in its budget slated for an additional 350 million this year. You cant have it both ways. You cant be cutting the irs that kind of amount and then decry the fact that theyve got antiquated i. T. Systems. I thank my colleague for yielding. My time has expired. I thank the gentle lady and the gentleman for pointing out the 10,000 less workers but not a smaller i. T. Budget. I know the chairman shares my concern about the i. T. Investment. I really do. I wish you had stayed longer last night to hear the accolades from both sides of the dais for the i. G. And his independence, his nonpartisan, the tigdas efforts and how much hes relied on as a nonpartisan. I think it would have been very, very insightful. I appreciate that. My wife is ill. And i have had to go home at night to you have our sympathies. I know that he would appreciate that. The gentleman from ohio, mr.
New York, NY (PRWEB) March 15, 2022 Ms. Goldhirsch is one of what the court called a “new slate” of LDC members, each of whom has played an important role