President Trump’s sweeping package of domestic legislation, H.R. 1 (originally titled the One Big Beautiful Bill Act (the “OBBB”)), became law on July 4, 2025. In addition to dramatically reshaping the landscape for...more
7/25/2025
/ Charitable Donations ,
Charitable Organizations ,
Employee Benefits ,
Excise Tax ,
Federal Taxes ,
Gift Tax ,
IRS ,
New Legislation ,
Nonprofits ,
One Big Beautiful Bill Act ,
Senate Finance Committee ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Legislation ,
Tax Liability ,
Tax Reform ,
Tuition
In the wake of the Los Angeles wildfires that have destroyed tens of thousands of acres and leveled entire communities, there is a significant and growing need for funding recovery, rebuilding, and resiliency efforts. The...more
Recent bills in the U.S. House of Representatives and Senate demonstrate legislators’ concerns about several issues related to nonprofits, including: (1) admissions practices at institutions of higher education; (2)...more
1/26/2024
/ Charitable Deductions ,
Colleges ,
Disclosure Requirements ,
Educational Institutions ,
Excise Tax ,
IRS ,
Legislative Agendas ,
Nonprofits ,
Proposed Legislation ,
Sports ,
Tax Exemptions ,
Universities
Since the enactment of the statutory donor-advised fund (“DAF”) rules under the Pension Protection Act of 2006, sponsoring organizations that manage DAF programs have relied on the Internal Revenue Code (“IRC” or the “Code”)...more
On August 14, 2023, the Committee on Ways and Means of the United States House of Representatives (the “Committee”) issued an open letter (the “RFI”) entitled “Request for Information: Understanding and Examining the...more
In published guidance, the IRS has confirmed that a “qualified appraisal” is required if a donor of cryptocurrency is claiming an income tax charitable deduction greater than $5,000. This position, set forth in Chief Counsel...more
As we previously reported, the Tax Cuts and Jobs Act, which was signed into law at the end of 2017, imposes an excise tax on certain tax-exempt organizations equivalent to 21% of “excess compensation” (including certain...more
As we previously reported, the 2017 tax reform bill instituted an excise tax on the investment income of certain private colleges and universities under new Section 4968 of the Internal Revenue Code (the “Code”). ...more
On November 2, 2017, House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced H.R. 1, the “Tax Cuts and Jobs Act” (the “Bill”). At over four hundred pages, the Bill promises substantial changes to the Internal...more
11/8/2017
/ Adjusted Gross Income ,
Charitable Deductions ,
Charitable Donations ,
Charitable Organizations ,
Churches ,
Compensation & Benefits ,
Donor-Advised Funds (DAFs) ,
Employee Housing ,
Executive Compensation ,
Internal Revenue Code (IRC) ,
IRS ,
Museums ,
Philanthropy ,
Political Campaigns ,
Political Contributions ,
Private Foundations ,
Proposed Legislation ,
Religious Institutions ,
Tax Code ,
Tax Exempt Entities ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration ,
Tuition