The Resource Intermediate sanctions, Celia Roady

Intermediate sanctions, Celia Roady

Label
Intermediate sanctions
Title
Intermediate sanctions
Statement of responsibility
Celia Roady
Creator
Contributor
Subject
Language
eng
Summary
" ... discusses in detail the applicable sanctions that, under [section] 4958, may be imposed on so-called "excess benefit transactions" involving [section] 501(c)(3) public charities, [section] 501(c)(4) organizations, and their insiders. Enacted in 1996 by the Taxpayer Bill of Rights 2, [section] 4958 was added to the Internal Revenue Code to provide the IRS with a tool to penalize insiders of [section] 501(c)(3) public charities and [section] 501(c)(4) organizations who receive excess compensation or engage in unfair business transactions with the organizations, as well as managers who knowingly approve such arrangements. Section 4958 imposes an excise tax on a "disqualified person"--A person with substantial control over the organization -- who receives excessive economic benefit from the organization, as well as on the organization manager(s) who approves the benefit knowing it to be excessive. The IRS may choose to invoke these penalties on the disqualified person as an alternative to revoking the organization's tax exemption, hence the term "intermediate sanctions" to describe this new penalty regime. Amendments made by the Pension Protection Act of 2006 extended the intermediate sanctions penalty system to certain transactions involving donor advised funds and supporting organizations and their substantial contributors, even when there is no "excess" benefit."
Member of
Cataloging source
BNA
Characteristic
updating web site
http://library.link/vocab/creatorDate
1951-
http://library.link/vocab/creatorName
Roady, Celia
Entry convention
integrated entry
LC call number
KF6289.A1
LC item number
T35 no. 476 (INTERNET)
Nature of contents
dictionaries
Regularity
complete irregular
http://library.link/vocab/relatedWorkOrContributorName
Tax Management Inc
Series statement
Estates, gifts, and trusts portfolios
Series volume
476
http://library.link/vocab/subjectName
  • Nonprofit organizations
  • Tax exemption
  • Charitable uses, trusts, and foundations
Label
Intermediate sanctions, Celia Roady
Instantiates
Publication
Note
  • Formerly published in Washington, D.C., 2002-2007
  • Published as Tax Management Estates, Gifts and Trusts portfolio 884, <Oct. 4, 2007>-2013
  • Title from title screen (viewed Mar. 13, 2013)
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
mixed
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Detailed analysis. Introduction -- Effective dates of [section] 4958 as originally enacted and as expanded by the PPA -- Definition of applicable tax-exempt organization -- Definition of disqualified person -- Definition of organization manager -- Excess benefit transactions -- Rebuttable presumption of reasonableness -- Private letter rulings and technical advice under [section] 4958 -- Imposition of excise tax -- Abatement of [section] 4958 excise taxes -- Reporting excess benefit transactions -- Church tax inquiries and examinations -- IRS discretion to impose revocation and/or excise taxes -- Working papers
Dimensions
unknown
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Publication frequency
Updated irregularly
Specific material designation
remote
System control number
(OCoLC)60450390
System details
Mode of access: World Wide Web
Label
Intermediate sanctions, Celia Roady
Publication
Note
  • Formerly published in Washington, D.C., 2002-2007
  • Published as Tax Management Estates, Gifts and Trusts portfolio 884, <Oct. 4, 2007>-2013
  • Title from title screen (viewed Mar. 13, 2013)
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
mixed
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Detailed analysis. Introduction -- Effective dates of [section] 4958 as originally enacted and as expanded by the PPA -- Definition of applicable tax-exempt organization -- Definition of disqualified person -- Definition of organization manager -- Excess benefit transactions -- Rebuttable presumption of reasonableness -- Private letter rulings and technical advice under [section] 4958 -- Imposition of excise tax -- Abatement of [section] 4958 excise taxes -- Reporting excess benefit transactions -- Church tax inquiries and examinations -- IRS discretion to impose revocation and/or excise taxes -- Working papers
Dimensions
unknown
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Publication frequency
Updated irregularly
Specific material designation
remote
System control number
(OCoLC)60450390
System details
Mode of access: World Wide Web

Library Locations

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      3400 Chestnut Street, Philadelphia, Pennsylvania, 19104, US
      39.954941 -75.193362
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