Foundations Must Remain Alert to Potential Self-Dealing—Part III
Author: Katherine E. David, J.D..
Source: Volume 17, Number 06, September/October 2018 , pp.3-8(6)
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Abstract:
This article is the third in a series addressing self-dealing transactions, which continue to be a “major issue” in IRS examinations of private foundations. Parts I and II in this series examined the definitions of “disqualified person” and “self-dealing.” This installment examines the concept of “correction” and steps a foundation should take to correct acts of self-dealing when they occur.Keywords: Disqualified Persons’ Sale or Use of Foundation Assets; Foundation Use of Disqualified Person’s Property
Affiliations:
1: Clark Hill Strasburger.