IRS Crashes Party at Fiesta Bowl

The Fiesta Bowl is scrambling to avoid needing tax relief. The Fiesta Bowl, a non-profit organization, is facing Internal Revenue Service (IRS) scrutiny for giving elected officials expensive gifts since 2002, which may not have served the Fiesta Bowl’s tax-exempt purpose. Presently, the Fiesta Bowl, because of its non-profit status, does not have to pay federal or state income taxes. However, if such gifts were not in furtherance of the Fiesta Bowl’s tax-exempt purpose, the IRS may levy a fine or may revoke the Fiesta Bowl’s non-profit status. Therefore, the Fiesta Bowl is now seeking information from gift recipients that such gifts were indeed proper, or it is seeking a monetary reimbursement for its “gifts”. Fifteen elected officials have since amended their financial disclosure reports to reflect gifts received from the bowl.

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