Source: https://www.pubmatch.com/book/194759.html
Timestamp: 2019-04-18 18:28:26+00:00

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The 2007 Cumulative Supplement includes the following updates: The 2006 version of Form 990-PF, filled in to illustrate reporting issues, is included in Chapter 12.The IRS has substantially revised the application for recognition of exemption filed by private foundations (and other charitable organizations), Form 1023. This application is included in supplemental materials for Chapter 2, along with some details about preparation of the form and some traps inherent therein.Discussion of application of self-dealing rules, the personal services exception, the exception for incidental benefits, and foundation-funded disaster relief programs.Summary of the Enactment of the Pension Protection Act of 2006.Discussion of the IRS’s restructuring which has brought–among other units–the Exempt Organizations Compliance Unit, the Data Analysis Unit, and the Review of Operations Unit. The significance of these units is reflected in the recently issued IRS report on its Executive Compensation Compliance Initiative project.
Bruce R. Hopkins is a senior partner with the law firm of Polsinelli Shalton Flanigan Suelthaus PC, in its Kansas City, Missouri, and Washington, D.C. offices. He specializes in the representation of charitable and other nonprofit organizations, including private foundations. His practice ranges over the entirety of legal matters involving nonprofit organizations, with emphasis on legal matters pertaining to private foundations, fundraising law issues, charitable giving (including planned giving), the formation of nonprofit organizations, acquisition of recognition of tax-exempt and public charity status, unrelated business planning, application of intermediate sanctions, use of nonprofit and for-profit subsidiaries, nonprofit organizations’ involvement in joint ventures, and review of annual information returns.
Mr. Hopkins served as chair of the Committee on Exempt Organizations, Tax Section, American Bar Association; chair, Section of Taxation, National Association of College and University Attorneys; and president, Planned Giving Study Group of Greater Washington, D.C. He received the 2007 Vanguard (Lifetime Achievement) Nonprofit Lawyer Award, presented by the Committee on Nonprofit Corporations, Section of Business Law, American Bar Association.
Mr. Hopkins is the series editor of Wiley’s Nonprofit Law, Finance, and Management Series. In addition to Private Foundations: Tax Law and Compliance, Second Edition, he is the author of The Law of Tax-Exempt Organizations, Ninth Edition; Planning Guide for the Law of Tax-Exempt Organizations: Strategies and Commentaries; The Tax Law of Unrelated Business for Nonprofit Organizations; The Tax Law of Associations; The Tax Law of Charitable Giving, Third Edition; The Law of Fundraising, Third Edition; Nonprofit Law Made Easy; Charitable Giving Law Made Easy; 650 Essential Nonprofit Law Questions Answered; The First Legal Answer Book for Fund-Raisers; The Second Legal Answer Book for Fund-Raisers; The Nonprofits’ Guide to Internet Communications Law; The Law of Intermediate Sanctions: A Guide for Nonprofits; The Legal Answer Book for Nonprofit Organizations; The Second Legal Answer Book for Nonprofit Organizations; The Nonprofit Law Dictionary; Starting and Managing a Nonprofit Organization; A Legal Guide, Fourth Edition; and is the co-author, with Jody Blazek, of The Legal Answer Book for Private Foundations; and with Thomas K. Hyatt, of The Law of Tax-Exempt Healthcare Organizations, Second Edition. He also writes Bruce R. Hopkins’ Nonprofit Counsel, a monthly newsletter, published by John Wiley & Sons.
Jody Blazek is a partner in Blazek & Vetterling LLP, a Houston CPA firm focusing on tax and financial services for exempt organizations and the individuals who create, fund, and work with them. BV serves over 300 nonprofit organizations, providing financial reporting, tax compliance, and planning services.
Jody began her professional career at KPMG, then Peat, Marwick, Mitchell &Co. Her concentration on exempt organizations began in 1969 when she studied and advised clients about the Tax Reform Act that completely revamped the taxation of charities and created private foundations. From 1972 to 1981, she gained nonprofit management experience as treasurer of the Menil Interests, where she worked with John and Dominique de Menil to plan the Menil Collection, the Rothko Chapel, and other projects of theMenil Foundation. She reentered public practice in 1981 to found the firm she now serves.
She is the author of six books in the Wiley Nonprofit Series: IRS Form 1023 PreparationGuide (2005); IRS Form 990 Tax PreparationGuide for Nonprofits (2004); Tax Planning and Compliance for Tax-Exempt Organizations, Fourth Edition (2004); Financial Planning for Nonprofit Organizations (1996); and Private Foundations: Tax Law and Compliance, Second Edition (2003) and The Legal Answer Book for Private Foundations (2002), both co-authored with Bruce R. Hopkins.
*§ 2.7 When to Report Back to the IRS.
(a) Definition of Personal Services (New).
(b) Definition of Compensation (New).
(f) Expense Reimbursements and Advances.
*(h) IRS Executive Compensation Study (New).
*(a) Noncompensatory Indemnification and Insurance.
(c) For the Benefit of Transactions (New).
*(d) Incidental or Tenuous Benefits.
*§ 5.12A Early Terminations of Charitable Remainder Trusts (New).
§ 5.14 Issues Once Self-Dealing Occurs.
*(f) Cash and Other Types of Assets.
§ 6.6 Satisfying the Distribution Test.
§ 6.6A Distributions to Certain Supporting Organizations (New).
*§ 7.3 Functionally Related Businesses.
*§ 7.3A Rules Applicable to Certain Supporting Organizations (New).
*§ 7.3B Rules Applicable to Donor-Advised Funds (New).
§ 7.4 Excise Taxes on Excess Holdings.
*§ 9.5 Grants to Foreign Organizations.
*§ 9.8A Distributions to Certain Supporting Organizations (New).
§ 9.9 Excise Tax for Taxable Expenditures.
*(a) Qualification for Reduced Rate.
(f) Estate or Trust Distributions.
*(c) Questionable Types of Gain.
*§ 10.4A Post-2006 Effort to Expand Tax Base (New).
*§ 10.5 Reductions to Gross Investment Income.
*§ 10.6 Timely Payment of Excise Tax.
(e) Revenue Produced on the Internet (New).
*(c) Partnerships and S Corporations.
*(a) Part I, Analysis of Revenue and Expenses.
(c) Where andWhen to File Form 990-PF.
(f) Employment Tax Considerations (New).
(g) Reporting Requirements for Offshore Investments (New).
(a) Eligible Public Charity Recipients.
*§ 13.4 Operation as a Public Charity.
*(b) Qualified Appreciated Stock Rule.
§ 15.4 Publicly Supported Organizations—Donative Entities.
*(g) Operated in Connection with.
*(g.1) Application of Excess Benefit Transactions Rules (New).
*(h.1) Pension Protection Act–Caused Problem (New).
*(k) Department of Treasury Study (New).
*§ 15.9 Relationships Created for Avoidance Purposes.
*§ 16.3 Types of Donor Funds.
*§ 16.4 IRS Challenges to Donor Funds.
*§ 16.9 Statutory Criteria (New).
Cumulative Table of IRS Revenue Rulings and Revenue Procedures.
Cumulative Table of IRS Private Determinations Cited in Text.
Cumulative Table of IRS Private Determinations Discussed in Bruce R. Hopkins’ Nonprofit Counsel.
Cumulative Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda.
Cumulative Table of Cases Discussed in Bruce R. Hopkins’ Nonprofit Counsel.
Note: Sections not in the main bound volume, Private Foundations: Tax Law and Compliance Second Edition (9780471444381) are indicated by "(New)" after the title. Material newto or modified in this supplement is indicated by an asterisk (*) in the left margin in the Contents and throughout the supplement.

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