The first supplement contains new information on:
- Revised applications for recognition of exemption (Form 1023) and annual information returns (Forms 990, 990-PF). Drafts of these proposed forms are in thesupplement.
- Application of the self-dealing rules in general, the personal services exception, the exception for incidental benefits, and foundation-funded disaster relief programs.
- Legislation that would revise some of the private foundation rules (such as payout requirement and the level of the self-dealing tax).