Bruce R. Hopkins, Shane T. Hamilton

The Tax Law of Private Foundations (eBook, PDF)

2022 Cumulative Supplement

• Format: PDF

Produktbeschreibung

Stay up to date on the most recent regulatory, legislative, and case law developments in the area of private foundations The Tax Law of Private Foundations: 2022 Cumulative Supplement, 5th Edition delivers regulatory, legislative, and common law updates from 2021 to executives and supporting professionals seeking to navigate the complex web of federal tax law governing the administration and use of private foundations. In the Supplement, readers will find guidance on the most recent iterations of relevant laws, commentary on the most recent cases, and practice advice respecting the most recent regulations in the field of private foundations. This edition of the Supplement is especially crucial given recent amendments and changes to critical legislation.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 304
• Erscheinungstermin: 15. November 2022
• Englisch
• ISBN-13: 9781119985365
• Artikelnr.: 66452085

Inhaltsangabe

Preface ix

Book Citations xi

1 Introduction to Private Foundations 1

1.1 Private Foundations: Unique Organizations 1

1.2 Definition of Private Foundation 2

1.4 Private Foundation Law Primer 2

1.5 Foundations in Overall Exempt Organizations Context 2

1.6 Definition of Charity 2

1.7 Operating for Charitable Purposes 3

1.9 Private Foundation Sanctions 3

1.10 Statistical Profile 12

1.11 Private Foundations and Law 50 Years Later 12

2 Starting, Funding, and Governing a Private Foundation 17

2.1 Choice of Organizational Form 17

2.3 Estate Planning Principles 17

2.4 Foundations and Planned Giving 17

2.5 Acquiring Recognition of Tax-Exempt Status 18

2.6 Special Requirements for Charitable Organizations 19

2.7 When to Report Back to the IRS 19

3 Types of Private Foundations 21

3.1 Private Operating Foundations 21

3.3 Conduit Foundations 22

3.4 Common Fund Foundations 23

3.8 Split-Interest Trusts 23

3.9 Foreign Private Foundations 23

4 Disqualified Persons 25

4.1 Substantial Contributors 25

4.2 Foundation Managers 25

4.3 Certain 20 Percent Owners 25

4.4 Family Members 26

4.5 Corporations or Partnerships 26

4.6 Trusts or Estates 26

5 Self-Dealing 27

5.1 Private Inurement Doctrine 27

5.2 Private Benefit Doctrine 28

5.3 Definition of Self-Dealing 31

5.3a Excess Compensation Tax 31

5.4 Sale, Exchange, Lease, or Furnishing of Property 37

5.5 Loans and Other Extensions of Credit 37

5.6 Payment of Compensation 38

5.8 Uses of Income or Assets by Disqualified Persons 39

5.11 Indirect Self-Dealing 42

5.12 Property Held by Fiduciaries 50

5.14 Additional Exceptions 58

5.15 Issues Once Self-Dealing Occurs 59

6 Mandatory Distributions 65

6.1 Distribution Requirements--in General 65

6.2 Assets Used to Calculate Minimum Investment Return 66

6.3 Determining Fair Market Value 66

6.4 Distributable Amount 69

6.5 Qualifying Distributions 70

6.7 Satisfying the Distribution Test 75

7 Excess Business Holdings 77

7.1 General Rules 77

7.2 Permitted and Excess Holdings 79

7.3 Functionally Related Businesses 80

7.7 Excise Taxes on Excess Holdings 80

8 Jeopardizing Investments 81

8.2 Prudent Investments 81

8.3 Program-Related Investments 81

8.4 Investment Frauds 82

8.5 Excise Tax for Jeopardizing Investments 82

9 Taxable Expenditures 83

9.1 Legislative Activities 83

9.2 Political Campaign Activities 84

9.3 Grants to Individuals 84

9.4 Grants to Public Charities 97

9.6 Grants to Foreign Organizations 97

9.7 Expenditure Responsibility 99

9.8 Internet and Private Foundations 100

9.9 Spending for Noncharitable Purposes 100

9.10 Distributions to Certain Supporting Organizations 102

9.10a Distributions to Group Exemption Organizations 102

9.11 Excise Tax for Taxable Expenditures 104

10 Tax on Investment Income 107

10.1 Rate of Tax 107

10.1A Payment of Tax 107

10.2 Reducing Excise Tax 108

10.3 Formula for Taxable Income 109

10.4 Re