Recent Private Letter Rulings of Interest
Author: Katherine E. David.
Source: Volume 16, Number 01, November/December 2016 , pp.13-14(2)
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Abstract:
In PLR 201641023, the IRS revoked the tax-exempt status of a private foundation organized as a trust on the grounds that Foundation was not operated exclusively for IRC ยง501(c)(3) purposes. In our regular round up of recent PLRs, we examine this ruling and others including rulings on the required disposition of excess business holdings, and a ruling on whether a grant by a private foundation to a supporting organization constitutes self-dealing.Keywords: PLR 201641023; PLR 201636021; PLR 201642001; Supporting Organizations
Affiliations:
1: Strasburger & Price, LLP.