Thinking about a private foundation? Maybe you should consider an alternative. In this article, Los Angeles attorneys David Wheeler Newman and Jose Silva examine the roles that public charities, common funds, and supporting organizations can play accomplishing donors' philanthropic goals.  MORE »

With year-end tax and charitable gift planning underway, PGDC guest author Erik Dryburgh reviews the substantiation requirements for income tax charitable contribution deduction purposes.  MORE »

The Service has ruled privately that the exercise of an option to purchase assets of a private foundation by a holding company that is a substantial contributor to the foundation will not be an act of self-dealing under section 4941.   MORE »

House Ways and Means Committee Chair Bill Archer and ranking Democrat, Charles Rangel have introduced a second bill designed to eliminate the use of charitable split-dollar life insurance.   MORE »

The IRS approves a charitable gift of a remainder interest in a decedent's personal residence despite decedent's request for a "use agreement" between the charitable remainder beneficiary and a special needs trust established for the life estate beneficiary. In addition, it approves the payment of the annuity interest from a charitable remainder annuity trust to the special needs trust.   MORE »

In this edition of Gift Planner's Digest, New York attorney Patrick Martin discusses the technical requirements, operation, and uses of supporting organizations as described under Section 509(a)(3).  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2000-1 indicates the charitable mid-term federal rate under Code Section 7520 for the month of January is 7.4%.   MORE »

On December 17, 1999, President Clinton signed into law H.R. 1180, the "Ticket to Work and Work Incentives Improvement Act of 1999," which includes the denial of charitable contribution deductions for transfers associated with split-dollar insurance arrangements.   MORE »

The Service has issued Final Regulations (T.D. 8846), in response to the Hubert case, on the effect of certain estate administration expenses on the valuation of property which qualifies for the charitable or marital deduction.   MORE »

The Tax Court, relying on the IRS' expert and stating that the petitioner's expert's report was "useless," upheld the disallowance of the taxpayer's charitable contribution deductions and sustained the penalties for gross valuation misstatement and late filing.   MORE »