Taxable Expenditures

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The Internal Revenue Code contains provisions that impose an excise tax on private foundations that engage in certain prohibited acts, or engage in acts in Internal Revenue (IRS)-specified areas without following the strict IRS rules.

Violation of these provisions gives rise to taxes and penalties against the private foundation and, in some cases, its managers, its substantial contributors, and certain related persons.

Can you name the prohibited acts and those requiring special care?

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