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The Schedule of Expenditures of Federal Awards (SEFA) is a financial statement schedule prepared by management that lists an organization’s expenditures of federal assistance for the fiscal year by federal agency, grant number and amount.

The Internal Revenue Service (IRS) issued on September 3, 2021 Revenue Procedure 2021-40 (2021-40), which stated that the IRS will place a temporary halt on issuing letter rulings or determination letters in relation to whether certain transactions are self-dealing within the meaning of Section 4941(d) of the Internal Revenue Code (the Code).