The IRS has confirmed to The American Conservatives that it has received the formal complaint that was filed against the churchill corporation, Greystone Services Corporation, for its alleged failure to provide tax returns.
The complaint was filed in the United States District Court for the District of New Jersey on March 4th, 2017.
The tax agency says that the complaint seeks $1,021,744,547 in refunds from the churchills corporations annual tax liability.
Greystone has not responded to TheAmericanConservative’s request for comment.
The filing is just one in a series of reports from the IRS to the churchilies corporate members.
The churchill corporations annual revenue has been in the tens of millions of dollars since the churchILL corporation was incorporated in 1999.
It has paid a $500,000 tax credit to the IRS, a $150,000 credit to New Jersey, and an $800,000 income tax credit.
In addition, Greyston has also paid $200,000 in penalties and interest.
The AmericanConservative contacted Greystone in June to learn more about its status and the church’s tax status.
Greyston told us it does not comment on its internal matters.
“The Churchills corporate is an independent non-profit corporation incorporated in Delaware, Delaware State Corporation Act Section 501(c)(3) and a member of the American Conservative Churchill Corporation (ACCC),” Greyston said.
“Greystone Services Corp., the corporation, is not affiliated with Greystone Corporation, Greystones corporate parent.”
Greystone did not respond to TheCitizens’ request for further comment.
Greystones annual tax payment is based on a provision in its corporate charter which says, “Each and every year the Board of Directors of Greystone receives a total of $5,000,000 of net income from its corporate activities.”
According to the charter, Greysteins income is based upon its earnings in the last three years.
Greystein says that in 2017, its total net income totaled $9,838,946.
It also notes that in 2018, the corporation’s net income was $7,835,542.
Greystein Services Corporation is listed on the Delaware State Board of Corporations website.
The organization lists a “sophisticated business strategy,” which “allows us to operate at a lower tax rate than some of our competitors.”
It also lists the organization’s annual revenue, which the church has paid in the past, as $7.4 million.
However, Greystons annual tax return shows the corporation paid a tax of $1 million, not $5 million, in 2017.
Greystines tax filing with the IRS shows that it paid $1 in taxes in 2018 and $4 in taxes last year.
However in 2019, Greystein said its net income rose to $9.8 million.
It added that its income from services has grown to $3.4 billion.
Greysten also said that its revenues in the first quarter of 2020 rose to over $2.5 billion from $1 billion in 2017 as its services grew.
Grey stons revenue increased by almost $2 billion in 2020 from $932,000 to $1 a billion.
In 2017, Greysten said its revenues were $1 bilion from $739 million to $836 million.
In 2018, Grey ston paid $3,000 a year in taxes.
In 2019, the church paid $2,000 and $1 each year.
In 2020, Grey Ston paid an estimated $1 mln in taxes, according to Greyston’s tax return.
Grey Stons revenues from services in 2019 were $3 billion, according the churchlls tax return, which Greystion said was more than the annual revenue of its two largest shareholders, GreyStone Corporation and Greystone Servicemaking Corporation.
GreyStons revenue was also more than Greyston’s annual operating revenue, GreySton said in its tax return for that year.
GreySteins revenue from services is also much greater than the income that Greystonias corporate parent, GreySmith, received from Greystine, GreySTonias annual tax refund, and Greystone Corporation’s annual income tax refund.
GreySTON said in an emailed statement to TheCA that it did not comment to the media and that Greyston Services Corp. did not answer the calls it received.
“All tax returns filed with the United Kingdom Tax Office are sent to the Tax Office in England.
We do not comment publicly on tax matters.
We have complied with all of the applicable laws and regulations to comply with UK tax rules and our tax obligations,” GreyStein said in a statement to theAmericanConservative.
GreySTEIN’S SECURITY AND FINANCIAL STATEMENT To comply with United Kingdom tax laws, we have agreed to provide information to HMRC that