WebOct 12, 2024 · 26 U.S.C. § 4942 Section 4942 - Taxes on failure to distribute incomeCopy Cite ReadReadAnnotationsAnnotations2Attorney AnalysesAnalyses10Citing BriefsBriefs2Citing CasesCiting Cases57 Sort by Depth of Treatment Filter and narrow Any time Between: Start Year Enter a year in YYYY format End Year Enter a year in YYYY format Web26 U.S. Code § 4942 - Taxes on failure to distribute income. U.S. Code. Notes. prev next. (a) Initial tax There is hereby imposed on the undistributed income of a private foundation for any taxable year, which has not been distributed before the first day of the second (or … Any refunding bond described in paragraph (1) the proceeds of which are used to … The Secretary of the Treasury shall calculate the amount of each covered … (2) Amount involved The term “amount involved” means, with respect to any act … Amendments. 2024—Pub. L. 115–97, title I, § 13701(b), Dec. 22, 2024, 131 Stat. …
Sec. 4940. Excise Tax Based On Investment Income
WebFor purposes of section 4942 and the regulations thereunder, the term “operating foundation” means any private foundation which, in addition to satisfying the assets test, … dating a homeless woman
4942 - U.S. Code Title 26. Internal Revenue Code - Findlaw
WebI.R.C. § 4940 (c) (1) In General — For purposes of subsection (a), the net investment income is the amount by which (A) the sum of the gross investment income and the capital gain net income exceeds (B) the deductions allowed by paragraph (3). Web(2) Corporations on accrual basis. In the case of a corporation reporting its taxable income on the accrual basis, if- (A) the board of directors authorizes a charitable contribution during any taxable ... 4942(g)(3) , as distributions out of corpus (in accordance with section 4942(h) ) in an amount equal to 100 percent of such contributions ... WebNov 10, 2012 · In any case in which an initial tax is imposed by subsection (a) (1) on an act of self-dealing by a disqualified person with a private foundation and the act is not corrected within the taxable period, there is hereby imposed … bjorn potty training