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    1. Ekonomi och Ledarskap
    2. Företagsekonomi
    3. Redovisning och finansiering

    Tax Law of Private Foundations

    2025 Cumulative Supplement

    AvShane T. Hamilton,Bruce R. Hopkins

    Häftad, Engelska, 2025

    1 479 kr

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    Beskrivning

    Insightful analysis and explanations of private foundation tax law along with hands-on practice tools that make compliance easier Now in its seventh edition, The Tax Law of Private Foundations by Bruce Hopkins and Shane Hamilton serves as the gold-standard reference for navigating the complex regulations governing private foundations. This comprehensive book is regularly updated to incorporate the latest changes in tax law, providing executives and professionals with valuable clarification, expert insights, and practical instruction. With every edition supplemented annually, the book remains current and relevant. It offers a clear and concise summary of the regulations governing private foundations, explaining the logic underpinning the rules. The authors provide a range of helpful tools, including checklists, sample documents, and practice forms, to simplify the filing process and ensure compliance with the latest legislation. Readers will also find: Critical analyses and considerations of existing laws and regulations, avoiding potential confusion arising from future legislationA collection of practical tools that make it simpler to comply with the regulations governing private foundationsExpert guidance on obtaining or maintaining your foundation's tax-exempt statusAn indispensable resource, this latest edition caters to individuals with personal or professional interests in private foundations, offering authoritative guidance and complete explanations in an intricate and sometimes confusing area of the law. Whether navigating the complexities of compliance or seeking deep insights, this book remains the go-to reference for understanding and managing this difficult area of taxation.

    Produktinformation

    • Utgivningsdatum:2025-12-09
    • Mått:178 x 249 x 31 mm
    • Vikt:499 g
    • Format:Häftad
    • Språk:Engelska
    • Antal sidor:320
    • Upplaga:6
    • Förlag:John Wiley & Sons Inc
    • ISBN:9781394309320

    Utforska kategorier

    • Redovisning och finansiering inom Ekonomi och Ledarskap
    • Organisation och ägarskap inom Ekonomi och Ledarskap
    • Skatter och avgifter: Juridik inom Juridik

    Innehållsförteckning

    • Preface xiiiBook Citations xvii1 Introduction to Private Foundations 11.1 Private Foundations: Unique Organizations 11.2 Definition of Private Foundation 21.4 Private Foundation Law Primer 2(c) Disqualified Persons 2(f) Excess Business Holdings Rules 2(l) Unrelated Business Rules 21.7 Organizational Rules 21.8 Private Foundation Law Sanctions 3(b) Self- Dealing Sanctions as Pigouvian Taxes 3(c) Self- Dealing Sanctions: Taxes or Penalties? 4(e) Potential of Overlapping Taxes 51.9 Statistical Profile 51.10 Private Foundations and Law 50 Years Later 52 Starting, Funding, and Governing a Private Foundation 72.3 Choice of Organizational Form 72.4 Funding a Foundation 72.6 Foundations and Planned Giving 8(b) Charitable Remainder Trusts 8(d) Interrelationships with Private Foundation Rules 82.7 Acquiring Recognition of Tax- Exempt Status 9(a) Form 1023 9(b) 27- Month Rule 9(c) IRS Determination Letters Recognizing Exempt Status 10(d) Administrative Procedures When Recognition Denied 10(e) Declaratory Judgment Procedures When Recognition Denied 11(f) Recognition of Foreign Organizations 113 Types of Private Foundations 133.1 Private Operating Foundations 13(d) Income Test 13(h) Conversion to or from Private Operating Foundation Status 133.2 Exempt Operating Foundations 143.3 Conduit Foundations 153.6 Nonexempt Charitable Trusts 163.7 Split- Interest Trusts 173.8 Foreign Private Foundations 19(a) Gross Investment Income Tax 19(b) Withholding Tax 20(c) 85 Percent Support Test 21(d) Return Filing Obligations 21(e) Establishing Public Charity Status 21(f) Loss of Exemption (Prohibited Transactions) 224 Disqualified Persons 234.5 Corporations or Partnerships 234.7 Private Foundations 234.8 Governmental Officials 244.9 Termination of Disqualified Person Status 245 Self- Dealing 255.1 Private Inurement Doctrine 265.2 Private Benefit Doctrine 265.3 General Definition of Self- Dealing 285.4 Sale, Exchange, Lease, or Furnishing of Property 28(d) Leasing of Property 28(e) Furnishing of Goods, Services, or Facilities 29(g) Coinvestments 315.5 Loans and Other Extensions of Credit 32(a) Gifts of Indebted Property 325.6 Payment of Compensation 32(a) Definition of Personal Services 32(e) Excess Executive Compensation Tax 33(i) Reporting of Compensation 345.8 Uses of Income or Assets by Disqualified Persons 35(c) Payment of Charitable Pledges 35(e) Incidental or Tenuous Benefits 355.9 Sharing Space, Personnel, and Expenses 36(b) Office Space and Personnel 365.10 Payments to Governmental Officials 365.11 Indirect Self- Dealing 36(b) Concept of Control 36(d) Exceptions 365.12 Estate Administration Exception 37(a) Concept of the Expectancy 37(b) Estate Administration Exception— General Rules 375.13 Early Terminations of Split- Interest Trusts 385.14 Additional Exceptions 38(a) Certain Corporate Organizations and Reorganizations 38(b) Transitional Rules (Savings Provisions) 395.15 Excise Taxes on Self- Dealing 39(a) Self- Dealing Excise Taxes 39(d) Correcting the Transaction 416 Mandatory Distributions 436.1 Mandatory Distribution Requirement 43(a) Purpose and Policy 436.2 Minimum Investment Return 43(c) Future Interest or Expectancy 43(d) Exempt Function Assets 446.3 Determining Fair Market Value 44(c) Other Assets 446.4 Qualifying Distributions 44(a) General Definitions and Rules 44(b) Charitable Grants in General 45(c) Grants to Controlled Organizations and Other Foundations 45(d) Grantor Reliance Standards 46(f) Direct Charitable Expenditures 46(g) Set- Asides 466.5 Excise Taxes on Failure to Distribute Income 50(b) Ordering Rule for Qualifying Distributions 50(d) Excise Taxes on Undistributed Income 50(e) Valuation Mistakes 507 Excess Business Holdings 517.1 Overview 517.2 Definitions and Limitations on Business Holdings 52(a) Definition of Business Enterprise 52(b) Passive Income Businesses 54(c) Percentage Limitations 57(d) Permitted and Excess Holdings 62(e) Constructive Ownership 62(f) Disposition Periods 67(g) History of Excess Business Holdings Rules 727.3 Functionally Related Businesses 73(a) Substantially Related Businesses 73(b) Activities within a Larger Aggregate 757.5 Rules Applicable to Certain Supporting Organizations 787.7 Excise Tax on Excess Holdings 798 Jeopardizing Investments 818.1 Definition and General Rules 81(a) Applicable Standards in Defining Jeopardy 81(b) Timing of Determination 82(c) Illustrations and Examples 82(d) Contributed Assets 848.2 Prudent Investments 84(g) Mission- Related Investments 858.3 Program- Related Investments 868.5 Excise Taxes on Jeopardizing Investments 88(a) Initial Taxes 88(b) Tax on Managers 899 Taxable Expenditures 919.2 Political Campaign Activities 92(c) Voter Registration Drives 929.3 Grants to Individuals 92(b) Individual Grants for Charitable or Other Permitted Purposes 92(c) Disaster Relief and Other Assistance Grants 93(d) Individual Grants for Travel, Study, or Other Similar Purposes 93(f) IRS Approval of Grant Procedures 95(g) Individual Grant Intermediaries and Earmarking 1029.4 Grants to Public Charities 102(a) Types of Public Charity Grantees 102(b) Grantor Reliance Standards 102(c) Intermediary and Secondary Grantees 1029.5 Grants to Exempt Operating Foundations 1039.6 Grants to Foreign Organizations 103(b) Good Faith (Equivalency) Determinations 103(d) Anti- Terrorist Financing Guidelines 1039.7 Expenditure Responsibility 103(c) Grant Terms 1039.8 Spending for Noncharitable Purposes 1039.9 Excise Tax on Taxable Expenditures 104(a) Initial and Additional Excise Taxes 104(b) Tax on Managers 104(c) Paying the Tax 10510 Tax on Investment Income 10710.1 Rate of Tax 10710.3 Planning Opportunities to Reduce Tax 10710.4 Calculating Taxable Net Investment Income 107(b) Capital Gains and Losses 107(h) Partnership and S Corporation Income 10810.5 Reductions to Gross Investment Income 108(a) Deductions Allowed 108(b) Deductions Not Allowed 10810.6 Foreign Private Foundations 10810.7 Exemption from Tax on Investment Income 10811 Unrelated Business Activity 10911.1 General Rules 109(e) Real Estate Activities 10911.2 Exceptions 110(a) Royalties 11111.3 Business Activities of Private Foundations 111(a) Direct Conduct of Unrelated Activities 112(b) Ownership Interests in Unrelated Businesses 112(c) Partnerships and S Corporations 113(c- 1) Specified Payments from Controlled Entities 113(d) Community Foundations’ Grant- Making Services 114(e) Provision of Technical Assistance 11511.4 Unrelated Debt- Financed Income Rules 115(a) Acquisition Indebtedness 11511.5 Calculating and Reporting the Tax 115(b) Bucketing Rule 115(d) Tax Computation and Reporting Rules 11512 Tax Reporting and Administrative Issues 11712.1 Form 990- PF 117(a) Annual Form 990- PF Filing Requirement 117(c) Reporting Changes on Form 990- PF 118(d) Other Changes 11812.2 Form 990- PF Penalties 118(a) Daily Delinquency Penalty 118(c) Reasonable Cause 11912.3 Public Disclosure and Inspection of Returns and Applications 119(a) Disclosure Obligations of Private Foundations 119(c) IRS’s Disclosure Obligations 12012.4 Reporting and Payment of Excise Taxes 120(b) Additions to Tax and Penalties 120(d) Form 4720 Statute of Limitations 12112.5 Determination Letters and Letter Rulings 121(a) Form 8940 Miscellaneous Determination Requests 121(b) Letter Rulings 122(c) Reliance on Determinations and Rulings 12312.6 IRS Examinations of Private Foundations 123(a) Types of Examinations 123(b) General IRS EO Examination Practices and Procedures 12312.7 Revocation of Tax- Exempt Status 124(a) Automatic Revocation for Non- Filing 124(b) Retroactive Revocation 125(c) IRS Administrative Appeal Procedures 125(d) Contesting Revocation in Court 12513 Termination of Foundation Status 12713.1 Voluntary Termination 12713.3 Transfer of Assets to a Public Charity 128(a) General Rules 128(b) Restrictions and Conditions on Transfer 12813.4 Operation as a Public Charity 129(b) Initial Notice 129(c) Advance Ruling Requests 129(d) Final Notice 12913.5 Mergers, Split- Ups, and Transfers Between Foundations 130(a) General Rules 130(b) Complete Asset Transfers to Controlled Foundations 13014 Charitable Giving Rules 13114.1 Concept of Gift 13114.2 Basic Rules 132(a) Percentage Limitations 13214.4 Deduction Reduction Rules 133(a) Capital Gain Property Deduction Rule 133(b) Other Deduction Reduction Rules 133(c) Corporate Gifts of Inventory 13414.6 Special Gift Situations 142(g) Conservation Property 14214.7 Administrative Considerations 142(b) Substantiation Rules 142(c) Quid Pro Quo Disclosure Rules 14215 Public Charities 14315.3 Public Institution Charities 143(b) Educational Institutions 14315.4 Donative Publicly Supported Charities 144(b) 2 Percent Limitation 14415.5 Service Provider Publicly Supported Charities 144(c) Unusual Grants 14415.6 Supporting Organizations 145(b) Operational Test 145(g) Operated in Connection with (Type III) 145(h) Contributions from Controlling Donors 154(i) Excess Benefit Transaction Rules 155(j) Limitation on Control 155(l) Noncharitable Supported Organizations 156(n) Applications and Illustrations 156(o) Loss of Supporting Organization Status 15815.7 Change of Public Charity Category 159(b) From 509(a)(3) to 509(a)(1) or 509(a)(2) 159(d) IRS Recognition of Change in Status 15915.8 Termination of Public Charity Status 16016 Donor- Advised Funds 16116.1 Basic Definitions 16216.2 General Concept of a Gift 16216.3 Types of Donor Funds 16216.5 Public Charity Status of Sponsoring Organizations 16316.7 Statutory Criteria 163(a) Definition of Donor- Advised Fund 163(b) Taxes on Taxable Distributions 172(c) Taxes on Prohibited Benefits 176(d) Application of Excess Benefit Rules 176(e) Application of Excess Business Holdings Rules 177(f) Limitations on Deductibility of Contributions 177(g) Reporting and Disclosure Requirements 17716.8 Studies 177(a) Treasury Study 177(b) Congressional Research Service Study 17816.9 Tax Regulations 178(a) The Ever- Pending Regulations Project 178(c) Comments on IRS Notice 17816.10 Proposed Legislation 17917 Company Foundations 18117.2 Reasons to Establish a Company Foundation 18117.4 Private Benefit Doctrine 18317.5 Disqualified Persons Rules 18317.6 Self- Dealing Rules 184(a- 1) Satisfying Company Charitable Commitments 184(b) Furnishing of Goods, Services, and Facilities 184(c) Charity Benefit and Event Tickets 185(d) Programs Benefiting Employees 185(e) Incidental and Tenuous Benefits 189(f) Corporate Reorganizations 19117.7 Other Private Foundations Rules 191(b) Excess Business Holdings Rules 191(e) Net Investment Income Tax 19117.8 Excess Executive Compensation Tax Exceptions 192(a) Limited Hours Exception 192(b) Nonexempt Funds Exception 192About the Authors 193About the Online Resources 195Appendix A: Sources of Tax-Exempt Organizations Law 197Appendix B: Internal Revenue Code Sections 223Table of Cases 229Table of IRS Revenue Rulings, Revenue Procedures, and Notices 241Table of IRS Private Determinations Cited in Text 249Table of Other IRS Private Determinations 265Index 281