The regulations broaden the types of investments by private foundations that qualify as program-related investments that do not jeopardize the carrying out of a private foundation’s exempt purposes.
The first changes to these rules since 1972 add many examples involving programs in foreign countries.
The types of tax professionals private foundations can rely on when making a good-faith determination that a foreign grantee is a public charity were expanded.
The IRS has expanded the list of tax professionals who can be relied on when making a good-faith determination of a foreign grantee’s eligibility.
Private nonoperating foundations should employ tax planning techniques to lower the entity's excise tax rate from 2% to 1%. The potential tax savings that would result from proper tax planning would be better used to further the foundation's exempt purpose.
Coordinating Charitable Trusts and Private Foundations for the Business Owner: Complying With UBIT and Self-Dealing Rules
This item details some charitable giving options for owners of closely held businesses, the applicable unrelated business income and self-dealing rules, and best practices for taxpayers who have these charitable desires and restrictions.
The IRS proposed expanding the types of tax professionals on which private foundations may rely when making good-faith determinations as to the public charity status of foreign grantees.
This column assesses the advantages and disadvantages of using a private foundation to meet charitable goals.