IRS Auditing Three College Bowl Games
Thursday, March 13th, 2014
But Taxslayer.com Gator Bowl president Rick Catlett said on Wednesday that he is “not the least bit concerned” about a request from the Internal Revenue Service to review the Gator Bowl’s Form 990 for the fiscal year ending March 31, 2012.
Gator Bowl Sports, a non-profit, was informed of the audit by the IRS in January, and documentation on expenses, staff salaries and entertainment was turned over. The IRS told the Gator Bowl that a resolution may come this month.
Catlett said the IRS has been conducting random reviews of bowl games that are classified as non-profit since the scandal involving the Fiesta Bowl in 2011. In that situation, the IRS found numerous irregularities involving entertainment, benefits for bowl staff and salaries; and employees were urged to make contributions to politicians friendly to the Fiesta Bowl, and were reimbursed later by the bowl.
Click here to continue reading.


