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Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition
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Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

by Jody Blazek
March 2019
Intermediate to advanced content levelIntermediate to advanced
272 pages
7h 58m
English
Wiley
Content preview from Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

CHAPTER 14Self‐Dealing: IRC § 4941

  1. § 14.1 Definition of Self‐Dealing
    1. *(b) Statutory Exceptions
  2. § 14.2 Sale, Exchange, or Lease of Property
    1. *(b) Exchanges
    2. (c) Furnishing or Use of Property
    3. *(d) Co‐Owned Property
    4. *(e) Partnerships
  3. § 14.3 Loans
    1. (a) Donation of Indebted Property
  4. *§ 14.4 Compensation
  5. § 14.5 Transactions That Benefit Disqualified Persons
    1. *(d) Charitable Pledges
    2. *(e) Incidental or Tenuous Benefit
  6. *§ 14.7 Sharing Space, People, and Expenses with Family Office
    1. *(a) Can the Foundation Pay for Its Share?
  7. *§ 14.8 Indirect Deals
  8. § 14.9 Property Held by Fiduciaries
  9. § 14.10 Issues Once Self‐Dealing Occurs
    1. (a) Undoing the Transaction
    2. (c) Who Pays What Tax?

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 ...

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