Private Foundation: Tax Law and Compliance, 2004 Supplement

The first supplement contains new information on: Revised applications for recognition of exemption (Form 1023) and annual information returns (Forms 990, 990-PF) . Drafts of these proposed forms are in the supplement.Application of the self-dealing rules in general, the personal services exception, the exception for incidental benefits, and foundation-funded disaster relief programs.Legislation that would revise some of the private foundation rules (such as payout requirement and the level of the self-dealing tax) .