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Private Letter Ruling Roundup Foundation May Settle Litigation Via Payment to Union Benefit Plan  


Author:  Staff Editors.


Source: Volume 08, Number 01, November/December 2008 , pp.13-13(1)




Family Foundation Advisor

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Abstract: 

PLR 200831035 involved a complex and unusual set of facts involving a foundation and two union benefit plans. IRS Approves Four-Way Split of Family Foundation Assets. In PLR 200831034, the IRS was asked to rule on the consequences of these transfers and basically approve the transaction. More Time to Divest Excess Business Holdings. In PLR 200833018, the IRS granted a family foundation five additional years to dispose of a publicly traded stockholding that constituted excess business holdings.

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