FMV Sharing Arrangement OK for Office and Employees
Author: Staff Editors.
Source: Volume 03, Number 06, September/October 2004 , pp.10-10(1)
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Abstract:
In PLR 200421010, the IRS held that a private foundation and its disqualified persons could participate in shared offices and a shared employee arrangement with a supporting organization without triggering the penalty tax on self-dealing. The key is that all dealings and reimbursements must be at fair values, with careful and accurate records of actual costs to back up the allocations used.Keywords:
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