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
Many founders are familiar with tax-exempt charitable organizations. These nonprofit entities—which are commonly known by reference to Section 501(c)(3) of the Internal Revenue Code—are operated exclusively for a broad range...more
On June 9, 2021, United States Senators Angus King (Ind.-MA) and Charles Grassley (R-IA) announced plans to introduce the “Accelerating Charitable Efforts Act” or the “ACE Act” (the “Act”) which, if adopted, would implement...more
After a short period of deliberations by the House of Representatives (the “House”) and the Senate, President Trump signed the final version of H.R. 1 into Public Law No. 115-97 on December 22, 2017 (the “New Law”). The New...more
1/18/2018
/ Charitable Donations ,
Charitable Organizations ,
Compensation & Benefits ,
Corporate Taxes ,
Excise Tax ,
Executive Compensation ,
Fringe Benefits ,
Income Taxes ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Rates ,
Tax Reform ,
Trump Administration
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 “Initial House Bill”). Our previous alert discussed the possible impact of certain provisions...more
12/4/2017
/ 501(c)(3) ,
Educational Institutions ,
Excise Tax ,
Executive Compensation ,
Income Taxes ,
Johnson Controls ,
Legislative Agendas ,
Political Campaigns ,
Proposed Legislation ,
Royalties ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
UBIT