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AOPA ePilot Newsletter Story on SSA
AOPA is paying attention...I hope SSA emerges from this chapter
stronger. In my e-Pilot email Newsletter today from AOPA: SOARING SOCIETY FACES BUDGET CRUNCH OVER TAX ISSUES Calling it the "single most serious challenge" it has faced in its 75-year history, the Soaring Society of America (SSA) is in a financial crisis over unpaid taxes. In a September 7 letter to its membership, the society said it discovered that it had not filed federal tax-exempt information returns with the Internal Revenue Service since 2002. The society said the chief financial and administrative officer, Alan Gleason, did not provide sufficient financial data required by an outside accounting firm to prepare the tax returns. In preparing the delinquent returns, the accounting firm also discovered that the SSA had not submitted federal payroll withholding, Social Security, or Medicare taxes, as well as New Mexico state withholding taxes for at least five quarters beginning in 2003. Balance sheets were also found to be inaccurate. Gleason claimed that he didn't pay the taxes because of a lack of cash on hand, yet he didn't inform anyone else about the situation, according to the letter. Gleason has been put on paid administrative leave pending an investigation. The SSA said it is working diligently to pay back taxes and file the proper paperwork. Although it has severely strained its operational funds, the more than $1 million in funds supervised by the SSA Foundation remain secure. The SSA has more than 16,000 members and is based in Hobbs, New Mexico. |
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