The Legislation combines spending and policy priorities from 11 congressional committees and will reshape federal policy across nearly every sector of the U.S. economy. There is a possibility for one or more additional budget...more
8/18/2025
/ Budget Reconciliation ,
Charitable Donations ,
Charitable Organizations ,
Donor-Advised Funds (DAFs) ,
Endowment Funds ,
Excise Tax ,
Scholarship Granting Organizations (SGOs) ,
Tax Credits ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Legislation ,
Universities
For individual clients, the Legislation provides estate and tax planning opportunities, including through the increase in the federal gift, estate and generation-skipping transfer (GST) tax exemptions....more
8/1/2025
/ Estate Planning ,
Estate-Tax Exemption ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
Income Taxes ,
Qualified Business Income ,
Qualified Small Business Stock ,
SALT ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Legislation
The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions reached completion with Legislation signed by President Trump on July 4, 2025....more
7/8/2025
/ Corporate Taxes ,
Employee Benefits ,
Foreign Derived Intangible Income (FDII) ,
GILTI tax ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
IRS ,
Mortgage REITS ,
Opportunity Zones ,
Popular ,
Qualified Small Business Stock ,
Research and Development ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Legislation ,
Tax Reform ,
Trump Administration
The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions has begun, with House Ways & Means Committee proposals (the Markup) to spend...more
5/15/2025
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Corporate Taxes ,
Employee Benefits ,
Executive Compensation ,
Federal Budget ,
Foreign Derived Intangible Income (FDII) ,
GILTI tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Proposed Legislation ,
Renewable Energy ,
SALT ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
Tax Legislation ,
Tax Reform
Donor advised funds (DAFs) are wildly popular with donors because they reduce the costs and administrative burdens of charitable grants and investing, thereby increasing amounts available for charitable giving. Since 2009,...more
The House Ways and Means Committee this week released draft legislation advancing various tax change proposals. The House action follows several recent releases by the Senate Finance Committee, including proposals focused on...more
With the passage of the Biden Administration’s COVID-19 relief bill, the focus in Washington, D.C., has shifted to Administration plans for investment in infrastructure and related items and significant tax changes to help...more
Introduction - The favorable tax treatment provided by the Tax Cuts and Jobs Act, combined with historically low interest rates during the COVID-19 pandemic, has resulted in tremendous wealth transfer planning opportunities....more
To date, there have been three separate legislative acts designed to lessen the hardship created by the coronavirus pandemic. The Coronavirus Preparedness and Response Supplemental Appropriations Act provided emergency...more
In the wake of the novel coronavirus disease outbreak, more formally known as COVID-19, businesses and other entities have found it increasingly difficult to continue operating in an uncertain environment. Nonprofits in...more
While most provisions of the Internal Revenue Code (“Code”) do not automatically expire, there are dozens that do. Included among the expiring provisions have been several intended to enhance charitable giving. Each has been...more
The American College of Trust and Estate Counsel (ACTEC) is a national association of leading trust and estate attorneys. ACTEC contributes to the field of trusts and estates law through scholarship, teaching, and bar...more
New York Governor Andrew Cuomo recently signed into law the Non-profit Revitalization Act of 2013. The provisions of the Act are generally effective on July 1, 2014.
The Act will require nonprofit corporations governed...more
A wide array of organizations can qualify to be recognized as exempt from federal income taxes. Most noted of late are those organizations which are structured to “promote social welfare” and which can seek tax-exempt status...more
As you likely have heard, the President signed the American Taxpayer Relief Act (H.R. 8) (the "Act") on January 2, 2013. The Act, popularly known as the "fiscal cliff" legislation, permanently extends the Bush era tax cuts...more
1/4/2013
/ 3.8% Medicare Tax ,
Alternative Minimum Tax ,
American Taxpayer Relief Act ,
Bush-Era Tax Cuts ,
Business Taxes ,
Capital Gains ,
Estate Tax ,
Fiscal Cliff ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
Income Taxes ,
Payroll Taxes ,
Production Tax Credit ,
Tax Extensions