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
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
Proposals to significantly change the rules surrounding donor advised funds (“DAFs”) and private foundations have been introduced in the House of Representatives. The Accelerating Charitable Efforts Act (the “Act”), which...more