IRS T.D.: Prohibition on Gifts to Supporting Organizations from Persons Who Control Guidance (IRC §509)

Final regulations providing guidance on the prohibition on certain gifts or contributions to Type I and Type III supporting organizations from persons who control a supported organization and on certain other requirements for Type III supporting organizations, the IRS released Oct. 13, 2023. The regulations: 1) reflect changes to the law made by the Pension Protection Act of 2006; (2) affect certain Type I and Type III supporting organizations and their supported organizations. [IRS T.D. 9981, RIN 1545-BJ53, 88 Fed. Reg. __ (Oct. 16, 2023)]

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