What is the definition of an excess benefit transaction?
How will financial penalties be determined?
How will sanctions be applied?
What are the law′s expanded reporting and disclosure requirements?
What can nonprofits do to plan for compliance?
These are just some of the questions you may be asking about intermediate sanctions, the most important legislation to impact the nonprofit sector in a generation. This unique guide tackles these crucial issues and more, equipping you with the vital information you need to understand the new rules and work with them effectively.
Written by two of the country′s leading authorities on tax–exempt organizations, Intermediate Sanctions reviews the history and background of the act, and systematically examines how this body of law promises to affect the operations of public charities and other tax–exempt organizations. Clear and direct in approach, the book features down–to–earth examples throughout, making it an essential practical resource for lawyers, accountants, managers, and others working in the nonprofit arena.
The Law of Intermediate Sanctions.
Meaning and Implications of Intermediate Sanctions.
The Sanctions and Private Inurement.
Specific Applications of the Sanctions.
Expanded Reporting and Disclosure Requirements.
Planning for Compliance.
D. BENSON TESDAHL is a lawyer with Powers, Pyles, Sutter & Verville, P.C. in Washington, D.C., where he specializes in the representation of tax– exempt organizations. He is also an adjunct professor of tax law at Georgetown University. Mr. Tesdahl has published numerous tax articles and is co–chair of an American Bar Association subcommittee on tax–exempt entities.