It looks like the Trailhead Group has another thing to worry about.
In light of the Confidential’s reporting on financial discrepancies involving the Trailhead Group, Colorado Citizens For Ethics In Government (CCEG) has filed formal complaints with the IRS, citing a violation of disclosure requirements. CCEG, a non-profit watchdog group, has filed against four groups: the Colorado Good Government Initiative, the Colorado Leadership Fund, the Trailhead Group, and the Senate Majority Fund. All of which, the group says, have failed to disclose thousands of dollars in contributions properly.
“I think that the best case scenario will be penalties, which would be a tax on the amounts not disclosed,” said Chantell Taylor, Director of CCEG.
According to CCEG, the maximum taxable rate is 35% per undisclosed financial report. That means that for every contribution not reported, an organization found guilty might have to pay up to 35% of that contribution as a penalty.
“These disclosure requirements, that are set in state and federal law, require groups like this to disclose all contributions and expenditures so we know where the money’s going. and who it’s coming from,” Taylor continued. “It ties into how candidates are funded and the public deserves to know who’s paying for them.”
Taylor also said that the complaints have been sent to the IRS Dallas field office – where complaints are usually sent – to expedite the investigation