Correction period - self-dealing |
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The correction period starts on the day the act of self-dealing occurs and ends 90 days after a notice of deficiency for the additional tax is mailed.
The correction period may be extended by:
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Any period in which the deficiency cannot be assessed because of a petition to the Tax Court, or
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Any period the IRS determines is reasonable and necessary.
Additional information
Return to Life Cycle of a Private Foundation
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Page Last Reviewed or Updated: May 05, 2009