Private Foundations: Not-for-Profit Tax Compliance
In this CPE course, get an overview of the basic tax compliance requirements that apply to private foundations, including the unique restrictions and excise taxes related to self-dealing, annual distribution of income, limits on business holdings and more.
Format
Online
NASBA Field of Study
Taxes
Level
Basic
CPE Credits
1
Author(s)
MTAX and William E. Turco, McGladrey LLP
Availability
1 year
Product Number
165144
This CPE course is included in the comprehensive Not-for-Profit Certificate I Program. It can also be purchased individually or as a part of the Not-for-Profit Tax Compliance track.
Private foundations are charitable organizations that are tax-exempt under 501(c)(3). However, because they are not publicly supported, they are subject to different filing requirements and restrictions that do not apply to any other type of NFP. In this CPE course, you will learn the basic tax compliance requirements that apply to private foundations, as well as the unique restrictions and excise taxes related to self-dealing, annual distribution of income, limits on business holdings and provisions related to investments and expenditures.
- Definition of private foundation
- Types of private foundations
- Basic tax compliance requirements and restrictions
- Excise taxes
- Form 4720 basics
- Termination of private foundation status
- Differentiate between private foundations and other NFPs
- Identify the types of private foundations
- Recognize the unique compliance requirements and restrictions related to private foundations
- Identify situations in which a private foundation will be subject to excise taxes and penalties
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