ALTOONA, Iowa — The Prairie Meadows Board of Directors will decide Wednesday whether the public will get to see an audit conducted by the Internal Revenue Service.
The IRS launched the audit in 2014.
It recently notified attorneys for Prairie Meadows that it intended to revoke the casino’s non-profit status, which would cost Polk County and dozens of charities millions of dollars.
The board will meet at 2 p.m. Wednesday for its regularly scheduled meeting then go into closed session to discuss the audit.
During that closed-door meeting, the board will vote on whether to release the audit to the public.
The IRS has declined to publicly release the details of why the agency wants to strip Prairie Meadows of its tax-exempt status.
Local attorneys say releasing the letter is important for the Prairie Meadows Board, the executives, the county, the city and everyone else who feeds off the casino’s revenue stream so the IRS can explain to the public why it has the view it has.