Wiley Private Foundations: Tax Law and Compliance (Wiley Nonprofit Law, Finance and Management Series)

With more than 50,000 private foundations in the United States and the increasing scrutiny of the IRS, this much-needed, annually updated manual provides you with a wide range of tax rules and regulations for these foundations. Coauthored by a lawyer and tax accountant, the revised and expanded Third Edition includes practical tax compliance suggestions and in-depth legal explanations. Capturing all-new developments in the private foundations arena, the new edition presents you with line-by-line instructions, sample-filled IRS forms, and complete citations. Review "….is a handy how-to reference for stewards of these charitable arms, bound as they are by the IRS Code and regulations. The book is organized with an eye to procedural questions, from organizing and applying for tax-exempt status to managing mandatory distribution, to reporting annually to the IRS, to winding up a foundation's affairs." ( Journal of Accountancy, April 1st, 2009) "It is written in a clean and direct style, and builds logically from fundamental concepts and explanations to more complex organizational and legal issues. The authors have produced a most impressive offering in this third edition. Its appearance is both timely and welcome. Highly recommended." (Estate Planning, February 2009) About the Author BRUCE R. HOPKINS is a senior partner in the law firm of Polsinelli Shalton Flanigan Suelthaus PC, practicing in the firm's Kansas City, Missouri, and Washington, D.C., offices. He specializes in the representation of private foundations and other taxexempt organizations. His practice ranges over the entirety of law matters involving exempt organizations, with emphasis on the formation of nonprofit organizations, acquisition of recognition of tax-exempt status for them, the private inurement and private benefit doctrines, the intermediate sanctions rules, legislative and political campaign activities issues, public charity and private foundation rules, unrelated business planning, use of exempt and for-profit subsidiaries, joint venture planning, tax shelter involvement, review of annual information returns, Internet communications developments, the law of charitable giving (including planned giving), and fundraising law issues. 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. Mr. Hopkins is the series editor of Wiley's Nonprofit Law, Finance, and Management Series. In addition to co-author of Private Foundations: Tax Law and Compliance, Third Edition , he is the author of The Law of Tax-Exempt Organizations, Ninth Edition; The Planning Guide for the Law of Tax-Exempt Organizations: Strategies and Commentaries; IRS Audits of Tax-Exempt Organizations: Policies, Practices, and Procedures ; The Tax Law of Charitable Giving, Third Edition; The Law of Fundraising, Third Edition; The Tax Law of Associations; The Tax Law of Unrelated Business for Nonprofit Organizations; The Nonprofits' Guide to Internet Communications Law; The Law of Intermediate Sanctions: A Guide for Nonprofits ; Starting and Managing a Nonprofit Organization: A Legal Guide, Fifth Edition; Nonprofit Law Made Easy; Charitable Giving Law Made Easy ; Private Foundation 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 Legal Answer Book for Nonprofit Organizations; The Second Legal Answer Book for Nonprofit Organizations; and The Nonprofit Law Dictionary; and is the co-author, with Jody Blazek, of The Legal Answer Book for Private Foundations; with Thomas K. Hyatt, of The Law of Tax-Exempt Healthcare Organizations, Third Edition; with David O. Middlebrook, of Nonprofit Law for Religious Organizations: Essential Questions & Answers; and with D