Bruce R. Hopkins, Jody Blazek

The Tax Law of Private Foundations (eBook, PDF)

2021 Cumulative Supplement

• Format: PDF

Produktbeschreibung

The Tax Law of Private Foundations, 2021 Cumulative Supplement, 5th Edition Make sense of the new regulatory requirements with expert clarification and practical tools for compliance Private Foundations: Tax Law and Compliance, 5th Edition provides clarification, expert insight, and helpful instruction for executives and supporting professionals navigating extensive federal tax law requirements. Despite their relatively low numbers, private foundations are subject to complex, burdensome regulations that continue to expand; the recent tax overhaul has compounded this issue, bringing massive changes beyond the usual annual adjustments, and throwing a wrench into the status quo of compliance-as-usual. This book summarizes and clarifies the statutory regulations governing private foundations, offers expert insight into the underlying logic, and provides a host of practical tools that ease the filing process and help ensure compliance with the latest laws. Detailed explanations are bolstered by checklists, sample documents and letters, practice forms, and real-world examples in order to provide both conceptual and practical guidance for maintaining tax-exempt eligibility and tax compliance. By untangling the complex maze of constantly-evolving requirements, this book offers a much-needed resource to those tasked with ensuring compliance amidst regulatory changes year after year. * Learn how the recent changes to tax laws affect private foundations and related organizations * Understand the practical implications of maintaining compliance * Access critical tools that help streamline the filing process * Avoid mistakes and oversights with line-by-line instruction This book is updated annually to provide guidance based on the most recent iteration of the law, but this year's edition is unusually critical; federal law has undergone sweeping changes that will substantially alter filings across the board, and the complex nature of the regulations governing private foundations promises additional confusion as the new laws are applied. Private Foundations: Tax Law and Compliance, 5th Edition provides insight, clarification, and explanation from the nation's leading authority on tax-exempt organizations to help private foundations maintain compliance amidst the changes.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 224
• Erscheinungstermin: 2. November 2021
• Englisch
• ISBN-13: 9781119805526
• Artikelnr.: 62885762

Autorenporträt

Bruce R. Hopkins concentrates on the representation of tax-exempt organizations, practicing with the Bruce R. Hopkins Law Firm, LLC, Kansas City, Missouri. He is the Professor from Practice at the University of Kansas School of Law. He writes a monthly newsletter, the Bruce R. Hopkins' Nonprofit Counsel, now in its 34th year. Hopkins is the author of over 30 books in the field of nonprofit tax law.

Inhaltsangabe

Preface

Book Citations

1 Introduction to Private Foundations

1.1 Private Foundations: Unique Organizations

1.2 Definition of Private Foundation

1.4 Private Foundation Law Primer

1.5 Foundations in Overall Exempt Organizations Context

1.6 Definition of Charity

1.7 Operating for Charitable Purposes

1.9 Private Foundation Sanctions

1.10 Statistical Profile

1.11 Private Foundations and Law 50 Years Later

2 Starting, Funding, and Governing a Private Foundation

2.1 Choice of Organizational Form

2.3 Estate Planning Principles

2.4 Foundations and Planned Giving

2.5 Acquiring Recognition of Tax-Exempt Status

2.6 Special Requirements for Charitable Organizations

2.7 When to Report Back to the IRS

3 Types of Private Foundations

3.1 Private Operating Foundations

3.3 Conduit Foundations

3.8 Split-Interest Trusts

3.9 Foreign Private Foundations

4 Disqualified Persons

4.1 Substantial Contributors

4.2 Foundation Managers

4.3 Certain 20 Percent Owners

4.4 Family Members

4.5 Corporations or Partnerships

4.6 Trusts or Estates

5 Self-Dealing

5.1 Private Inurement Doctrine

5.2 Private Benefit Doctrine

5.3 Definition of Self-Dealing

5.3A Excess Compensation Tax

5.4 Sale, Exchange, Lease, or Furnishing of Property

5.5 Loans and Other Extensions of Credit

5.6 Payment of Compensation

5.8 Uses of Income or Assets by Disqualified Persons

5.11 Indirect Self-Dealing

5.12 Property Held by Fiduciaries

5.14 Additional Exceptions

5.15 Issues Once Self-Dealing Occurs

6 Mandatory Distributions

6.1 Distribution Requirements--in General

6.2 Assets Used to Calculate Minimum Investment Return

6.3 Determining Fair Market Value

6.5 Qualifying Distributions

7 Excess Business Holdings

7.1 General Rules

7.2 Permitted and Excess Holdings

7.3 Functionally Related Businesses

7.7 Excise Taxes on Excess Holdings

8 Jeopardizing Investments

8.2 Prudent Investments

8.3 Program-Related Investments

9 Taxable Expenditures

9.1 Legislative Activities

9.2 Political Campaign Activities

9.3 Grants to Individuals

9.4 Grants to Public Charities

9.5A Funding of Employee Hardship Programs

9.6 Grants to Foreign Organizations

9.8 Internet and Private Foundations

9.9 Spending for Noncharitable Purposes

9.10A Distributions to Group Exemption Organizations

9.11 Excise Tax for Taxable Expenditures

10 Tax on Investment Income

10.1 Rate of Tax

10.3 Formula for Taxable Income

10.5 Foreign Foundations

11 Unrelated Business Activity

11.1 General Rules

11.2 Exceptions

11.3 Rules Specifically Applicable to Private Foundations

11.4 Unrelated Debt-Financed Income Rules

11.5 Calculating and Reporting the Tax

12 Tax Compliance and Administrative Issues

13 Termination of Foundation Status

13.1 Voluntary Termination

13.3 Transfer of Assets to a Public Charity

13.4 Operation as a Public Charity

13.6 Termination Tax<