Roundup of Individual Grant Rulings
Author: Staff Editors.
Source: Volume 09, Number 01, November/December 2009 , pp.5-5(1)
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Abstract:
Grants from private foundations to individuals are restricted to certain narrowlydefined categories. Under IRC ยงยง4945(d)(3) and 4945(g), a grant to an individual for travel, study or any other similar purpose is a taxable expenditure subject to tax unless the grant meets three tests.Keywords:
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