Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, May 19, 2017

PLR 201719004: Foundation’s Grant Results in Indirect Self Dealing

Private-foundations-33-638Lewis J. Saret recently posted an IRS letter, PR201719004.  Provided below is a summary of the referenced article:

In PLR 201719004, the Service ruled that a private foundation’s grant to an exempt organization created by the foundation founder’s granddaughter to purchase waste recycling collection containers is a qualifying distribution under Section 4942, but the transfer of waste to the granddaughter’s limited liability company would result in indirect acts of self-dealing.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2017/05/plr-201719004-foundations-grant-results-in-indirect-self-dealing.html

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