Compensation to Foundation Trustees for Work on Behalf of Founder’s Estate Not Self-Dealing
Author: Staff Editors.
Source: Volume 03, Number 02, January/February 2004 , pp.14-14(1)
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Abstract:
In PLR 200342008, the IRS ruled that the payment of compensation by a family foundation to its trustees for work they performed on behalf of the founder’s estate will not be self-dealing under IRC § 4941. The foundation was the primary beneficiary of the estate, and the estate was defending against litigation in which claimants sought to recover all of the assets of the estate.Keywords:
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