Article Comparison

Topics: Tax exemption, Law, Tax Pages: 3 (1172 words) Published: February 11, 2014

Article Comparison Essay In this Article comparison essay I will be discussing the similarities and the differences between two articles and the advantages and disadvantages of both. The first article that I will discuss will be the “Honorary Board Membership, Real Tax Liability: Limits to Tax-Exempt Organization Honorary Board Member Immunity under Internal Revenue Code. This article talks about the IRS and how individuals are responsible for withholding paying over taxes. The withheld “monies” are called trust funds. This article talks about charitable organization and how they abuse their power to get tax exemptions by withholding it and spending it on personal expenditure. For example “William Aramony, the CEO of the United Way of America, used United Way monies for his personal chauffeur, and to finance a personal intimate relationship with his paramour”. “In the spring of 2004, the IRS definitively signaled its intention to intensify scrutiny over the affairs of tax-exempt organizations”. Later on this article discusses about trust funds. Trust funds is a very important term which means funds which are withheld. In the mid section of this article we talk about” The Safe Harbor for Volunteer Board Members of Tax-Exempt Organizations”. It talks about how different companies assign a honorary board member looking at his reputation and his past contributions and how he strengthens the relationship between the entity or organization and the government.There are 3 parameters of the safe harbor. The first one is “Is solely serving in an honorary capacity”. “The critical element of the first prong of I.R.C. § 6672(e) would be an appointment to the board with the intention that the honorary membership have no functional significance other than lending the honorary member’s name to the organization”. The meaning of honorary is an individual who serves without pay. The second parameter is “Does not...
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