Prairie Meadows submits 2nd letter to IRS

Local News

ALTOONA – Prairie Meadows Casino has submitted a second letter to the IRS after being audited for its 2012 taxes. 

The IRS claims Prairie Meadows no long qualifies as a non-profit. The casino is one of 2 nonprofit casinos in the nation. That means instead of its profit going to federal taxes it goes back into the community. For example the Wells Fargo Arena was created by funds provided by Prairie Meadows. The money is also used for road projects in Polk County. There are also school scholarships. 

The casino has been audited before so they weren’t surprised by the audit; it’s the reasoning behind the audit. In may the IRS asked for paperwork and other information from Prairie Meadows regarding the audit. The casino did as asked and submitted a letter of protest. According the to attorney the IRS was supposed to respond within 30 days and as of Wednesday October 26,2016 they still hadn’t. The casino is confident the decision will be overturned. 

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