Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition
by Jody Blazek
CHAPTER 14Self‐Dealing: IRC § 4941
- § 14.1 Definition of Self‐Dealing
- § 14.2 Sale, Exchange, or Lease of Property
- § 14.3 Loans
- *§ 14.4 Compensation
- § 14.5 Transactions That Benefit Disqualified Persons
- *§ 14.7 Sharing Space, People, and Expenses with Family Office
- *§ 14.8 Indirect Deals
- § 14.9 Property Held by Fiduciaries
- § 14.10 Issues Once Self‐Dealing Occurs
p. 340. Add at end of introductory paragraph:
A charitable organization as defined in § 501(c)(3), including both public charities and private foundations, can be treated as a disqualified person (DP) for self‐dealing purposes, but not those that test for public safety.
*p. 340. Update footnote by changing § 20.9 to § 20.10 for penalties referred to as Intermediate Sanctions.
§ 14.1 Definition of Self‐Dealing
(b) Statutory Exceptions
*p. 341. Add to first bullet:
Disqualified persons transferred units of an LLC, which is subject to liabilities that amount to less than 2 percent of its fair market value to a private foundation. The liabilities will not be assumed by the PF. The other members of the LLC (the DPs), under the laws of the state in which it was created, are not personally liable for the LLC's ...