Tangled Web

David T. Leibell and Daniel L. Daniels, partners at Wiggin and Dana LLP, in Stamford, Conn., report: Private Letter Ruling 200734023, issued Aug. 24, 2007, shows how the Internal Revenue Code Section 4941 self-dealing rules apply in a situation involving the liquidation of partnerships in which a private foundation held an interest. The taxpayer sought and received a ruling that the liquidation of