About this Course
Topics covered include:
Impact transactions between private foundations and their disqualified persons;
Status of current IRS rulings and the Priority Guidance Plan regarding self-dealing;
How to correct and report acts of self-dealing when the occur.
Upon completing this course, you should be able to:
Identify the basics of what constitutes direct and indirect self-dealing transactions;
Recognize and gain practical knowledge of preventative controls for avoiding self-dealing;
Differentiate tax tiers for acts of self-dealing;
Identify transactions considered an exception to self-dealing;
Differentiate between a private foundation and disqualified person regarding the amount required to correct an act;
Recognize how a foundation should update a list of disqualified persons;
Differentiate acts of self-dealing commonly marked 'yes' on Form 990-PF;
Describe when a substantial contributor remains a substantial contributor.