After OpenAI CEO Sam Altman turned his nonprofit research laboratory into a for-profit, one of the organization’s biggest donors asked a compelling question. Elon Musk, America’s favorite billionaire, wrote, “If this is legal, why doesn’t everyone do it?”
Read MoreBloomberg’s bottom line: “A small but growing number of wealthy Americans (have) discovered how to bypass rules designed more than a half-century ago to ensure philanthropists stay accountable for the billions of dollars in tax breaks they receive each year.”
Read MoreAlmost 11 weeks into tax season, the U.S. Internal Revenue Service continues to experience delays in processing last year’s tax returns. Millions of tax returns and filings are still backlogged, including those in the Form 990 series, an annual reporting obligation by tax-exempt entities like ministries and churches.
Read MoreIn response to reporting by ReligionUnplugged.com and The Washington Post in 2019, a prominent former LDS Church member filed a federal lawsuit last week against the LDS Church seeking to regain more than $5 million in tithing he gave the church. The 2019 reports exposed that the LDS Church had amassed a $100 billion secret investment firm and used member tithes without their knowledge. The IRS has not confirmed whether it is investigating the church.
Read More
