For each of the following taxes which are imposed on private foundations, match the appropriate initial tax or additional tax. 5% initial tax and 25% additional tax on private foundations 5% initial tax and 200% additional tax on private 1. Tax on jeopardizing investments foundation 2. Tax on failure to distribute 15% initial tax and 100% additional tax on rivate 3. Tax on taxable expenditures foundations 100% additional tax on 4. Tax on excess business holdings private foundations and 50% additional tax on 5. Tax on self-dealing foundation manager 5% initial tax and 200% additional tax on the disqualified person
For each of the following taxes which are imposed on private foundations, match the appropriate initial tax or additional tax. 5% initial tax and 25% additional tax on private foundations 5% initial tax and 200% additional tax on private 1. Tax on jeopardizing investments foundation 2. Tax on failure to distribute 15% initial tax and 100% additional tax on rivate 3. Tax on taxable expenditures foundations 100% additional tax on 4. Tax on excess business holdings private foundations and 50% additional tax on 5. Tax on self-dealing foundation manager 5% initial tax and 200% additional tax on the disqualified person
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For each of the following taxes which are imposed on private foundations, match the
appropriate initial tax or additional tax.
5% initial tax and 25%
additional tax on private
foundations
5% initial tax and 200%
additional tax on private
1. Tax on jeopardizing investments
foundation
2. Tax on failure to distribute
15% initial tax and 100%
additional tax on private
3. Tax on taxable expenditures
foundations
100% additional tax on
4. Tax on excess business holdings
private foundations and
50% additional tax on
5. Tax on self-dealing
foundation manager
5% initial tax and 200%
additional tax on the
disqualified person
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