For many years, private foundations received little attention from Congress, regulators and the press. That is no longer the case. This past year, private foundations have been the focus of in-depth and often unfavorable scrutiny from the press. Congress has shown an interest in private foundations, and the IRS has included an audit program targeted at private foundations in the current workplan. This year’s primer program, cosponsored by the Council on Foundations, Inc., will provide in-depth coverage of tax issues affecting private foundations.
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