Self-dealing is a clear violation, and avoiding it is fundamental for private foundations. The foundation is a separate legal entity, and its funds should be exclusively used for charitable purposes.
The Chosun Ilbo on MSN
Dealing room war erupts as markets surge
As the KOSPI continues to set new all-time highs day after day, a place drawing attention is the ‘dealing room’ established ...
On March 1, 2022, the IRS published its 128-page Exempt Organizations Technical Guide TG 58 Excise Taxes on Self-Dealing under IRC 4941. While not authoritative, the guidance addresses in great detail ...
The rules governing private foundations are extensive, but the thorniest restrictions are arguably those surrounding self-dealing. Treasury Regulations Section 53.4941(d)-1(b)(3) prohibit PFs from ...
Private foundations are a favored vehicle for many charitably inclined clients — particularly those who seek to take a hands-on approach to their charitable mission while establishing a lasting legacy ...
Attorneys owe a fiduciary duty of loyalty and good faith to their clients, among others, which requires them to act solely for the client’s benefit. If an attorney violates this duty by engaging in ...
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