Federal housing law
0824 Publ 5580 (PDF)
Federal housing law as enacted — verbatim and citable.
- Edition
- 2026-10-03
- Last updated
- 2026-10-04
- Contents
- 2 chapters · 51 sections
- Jurisdiction
- United States
Contents
▸Exempt Organizations Technical Guide
Overview▸TG 57: Taxes on Net Investment Income – IRC Section 4940
Overview▸Table of Contents
Overview- I. Overview
- A. Background / History
- B. Relevant Terms
- C. Law / Authority
- II. Requirements
- A. Taxable Private Foundations
- A.1. Computing Section 4940 Tax on Taxable Private Foundations
- B. Examples of Tax on Taxable Private Foundations
- III. Other Considerations
- A. Prior Law: Reductions in Section 4940 Tax
- A.1. Foundation’s Assets
- A.2. Percentage Payout
- A.3. Base Period
- A.4. Qualifying Distribution
- A.5. Successor Organizations
- A.6. Example of Section 4940(e) Eligibility Determination
- B. Net Investment Income
- C. Gross Investment Income
- C.1. Subpart F Controlled Foreign Corporations - Section 965 Regulations Touch on Section 4940…
- C.2. Exclusion of Income from Section 4947 Trusts
- C.3. Non-Dividend Treatment of Certain Distributions in Redeeming Stock
- C.4. Deductions from Gross Investment Income
- C.5. Deduction Modifications
- D. Capital Gains and Losses
- D.1. Gifts of Investment Property
- D.2. Exceptions
- E. Basis Rules
- F. Treatment of Capital Losses
- F.1. Special Rules
- F.2. Examples
- IV. Examination Techniques
- A. Introduction
- B. Chapter 42 First Tier Excise Taxes Table
- C. One Act/Failure to Act, Multiple Violations
- D. Information Regarding Correction
- E. Termination Tax
- F. Revocation
- G. Statute of Limitations
- H. Applicable Penalties
- I. Domestic Taxable Private Foundations
- J. Pre-Examination Considerations
- K. Field/Office Correspondence Exam Information
- L. Exam Case Closing Information
- V. Issue Indicators and Examination Tips
- A. Issue Indicators
- B. Examination Tips
- VI. Example Worksheets / Exhibits
- A. Exhibit 1: Section 4940 Example (Using Prior Law 2% / 1% Rates)
- B. Exhibit 2: Section 4940 Example Using 1.39% Rate
- Part I of the Form 990-PF for the December 31, 2020 tax year under examination.