February 7, 2002
IRS Issues Final Rules Telling How to Avoid Penalties for Improper Financial Dealings
The Internal Revenue Service has released final regulations on how it will enforce a federal law that is designed to crack down on people who receive improper financial benefits through their involvement with nonprofit groups.
The final regulations spell out in detail how the IRS will enforce the so-called intermediate-sanctions law, enacted in 1996. They define the terms used in the law, provide examples of how the rules will be applied, and explain the detailed steps charities can
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