easyt65
Diamond Member
- Aug 4, 2015
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"The David Brock-founded, far-left group American Bridge 21st Century potentially violated its tax-exempt status by engaging in political activities while billing itself as a nonprofit, according a complaint filed Thursday with the Internal Revenue Service.
“American Bridge has a super-PAC arm that can spend unlimited sums to influence elections. But the primary purpose of nonprofits organized under section 501(c)4 of the tax code like American Bridge cannot be politics. The complaint quotes material given to potential donors to the nonprofit arm in 2017 saying the organization’s mission is ‘to take on Donald Trump,'”
Brock, a longtime ally of the Clintons, has dedicated his career to combating conservatives and right-leaning media.
Liberal billionaire George Soros has been a prominent donor to American Bridge 21st Century and the group spends millions on ads attacking President Trump.
The complaint accused American Bridge 21st Century Foundation of engaging in “serious and deliberate violations of the Internal Revenue Code of 1986, as amended (“IRC”) and abused its tax-exempt status” and outlined specific examples, referring to the far-left group as "AB21CF" throughout.
“Specifically, as detailed below, AB21CF is not operated exclusively for an exempt- purpose; is operated primarily for political purposes; has participated in an impermissible excess benefit transaction with its founder David Brock and True Blue Media LLC; has provided an improper private benefit to Brock and True Blue; has used its income and assets for the personal gain of Brock; and has engaged in commercial, for-profit business activity through its investment in True Blue Media”
This complaint is obviously hogwash - why would Billionaire globalist, socialist, Trump-hating, Hillary supporters seek to commit tax fraud to be able to spend limitless amounts of money to take down President Trump?! The whole idea is preposterous...
www.foxnews.com
“American Bridge has a super-PAC arm that can spend unlimited sums to influence elections. But the primary purpose of nonprofits organized under section 501(c)4 of the tax code like American Bridge cannot be politics. The complaint quotes material given to potential donors to the nonprofit arm in 2017 saying the organization’s mission is ‘to take on Donald Trump,'”
Brock, a longtime ally of the Clintons, has dedicated his career to combating conservatives and right-leaning media.
Liberal billionaire George Soros has been a prominent donor to American Bridge 21st Century and the group spends millions on ads attacking President Trump.
The complaint accused American Bridge 21st Century Foundation of engaging in “serious and deliberate violations of the Internal Revenue Code of 1986, as amended (“IRC”) and abused its tax-exempt status” and outlined specific examples, referring to the far-left group as "AB21CF" throughout.
“Specifically, as detailed below, AB21CF is not operated exclusively for an exempt- purpose; is operated primarily for political purposes; has participated in an impermissible excess benefit transaction with its founder David Brock and True Blue Media LLC; has provided an improper private benefit to Brock and True Blue; has used its income and assets for the personal gain of Brock; and has engaged in commercial, for-profit business activity through its investment in True Blue Media”
This complaint is obviously hogwash - why would Billionaire globalist, socialist, Trump-hating, Hillary supporters seek to commit tax fraud to be able to spend limitless amounts of money to take down President Trump?! The whole idea is preposterous...
David Brock-founded, anti-Trump group accused of violating tax laws
The David Brock-founded, far-left opposition group American Bridge 21st Century potentially violated its tax-exempt status by engaging in political activities while billing itself as a nonprofit, according to Bloomberg.
www.foxnews.com
