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Vol 23 No 5 May/June 2018

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Private Foundations Revised ed

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ISBN13: 9780471679769
ISBN: 0471679763
Published: January 2005
Publisher: John Wiley & Sons Ltd
Format: Paperback
Price: Out of print

The first supplement contains new information on: * Revised applications for recognition of exemption (Form 1023) and annual information returns (Forms 990, 990-PF). Drafts of these proposed forms are in the supplement. * Application of the self-dealing rules in general, the personal services exception, the exception for incidental benefits, and foundation-funded disaster relief programs. * Legislation that would revise some of the private foundation rules (such as payout requirement and the level of the self-dealing tax).

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Note: Sections not in the main bound volume are indicated by ""(New)"" after the title. List of Exhibits. Preface. Chapter One: Introduction to Private Foundations.
1.6 Operating for Charitable Purposes. Chapter Two: Starting and Funding a Private Foundation.
2.5 Acquiring Tax-Exempt Status. (a) Preparing Form 1023. Chapter Three: Types of Private Foundations.
3.6 Nonexempt Charitable Trusts. Chapter Four: Disqualified Persons.
4.1 Substantial Contributors.
4.8 Governmental Officials. Chapter Five: Self-Dealing.
5.2 Private Benefit Doctrine.
5.3 Definition of Self-Dealing. (c) Exceptions Provided in Regulations.
5.4 Sale, Exchange, Lease, or Furnishing of Property. (d) Furnishing of Goods, Services, or Facilities. (e) Co-owned Property.
5.5 Loans and Other Extensions of Credit. (b) Interest-Free Loans.
5.6 Payment of Compensation. (a) Definition of Personal Services (New). (b) Definition of Compensation (New).
5.8 Uses of Income or Assets by Disqualified Persons. (c) For the Benefit of Transactions (New).
5.12 Property Held by Fiduciaries. (a) General Rules.
5.14 Issues Once Self-Dealing Occurs. (a) Undoing the Transaction. (b) Amount Involved. (d) Payment of Tax. (e) Advice of Counsel. Chapter Six: Mandatory Distributions.
6.2 Assets Used to Calculate Minimum Investment Return. (f) Acquisition Indebtedness.
6.4 Distributable Amount. (a) Controversial Addition.
6.5 Qualifying Distributions. (c) Controversial Proposal (New). (d) Set-Asides.
6.6 Satisfying the Distribution Test. (b) Planning for Excess Distributions. (d) Abatement of the Tax. Chapter Seven: Excess Business Holdings.
7.2 Permitted and Excess Holdings. (d) Disposition Periods.
7.3 Functionally Related Businesses.
7.4 Excise Taxes on Excess Holdings. Chapter Eight: Jeopardizing Investments.
8.3 Program-Related Investments.
8.4 Excise Taxes for Jeopardizing Investments. (b) Reliance on Outside Advisors. Chapter Nine: Taxable Expenditures.
9.3 Grants to Individuals. (b) Other Individual Grants. (c) Compensatory Payments. (e) Employer-Related Programs. (h) Individual Grant Intermediaries.
9.4 Grants to Public Charities. (c) The Reliance Problem.
9.5 Grants to Foreign Organizations.
9.9 Excise Tax for Taxable Expenditures. (b) Paying or Abating the Tax. Chapter Ten: Tax on Investment Income.
10.3 Formula for Taxable Income. (c) Dividends. (f) Estate or Trust Distributions.
10.4 Capital Gains. (b) Nontaxed Gains. Chapter Twelve: Tax Compliance and Administrative Issues.
12.1 Successful Completion of Form 990-PF. (a) Part I, Analysis of Revenue and Expenses.
12.3 Compliance Issues. (e) Reporting Violations and Other IRS Issues. Chapter Thirteen: Termination of Foundation Status.
13.1 Voluntary Termination.
13.3 Transfer of Assets to a Public Charity. (c) Eligible Public Charity Recipients.
13.5 Mergers, Split-ups, and Transfers Between Foundations. (c) Unanswered Question. Chapter Sixteen: Donor-Advised Funds.
16.7 Public Charity Status of Funds. Cumulative Table of Cases. Cumulative Table of