Prepare for a Possible Change to Tax-exempt Status of CharitiesPrepare for a Possible Change to Tax-exempt Status of Charities
When planning for charitable gifts, especially those accomplished using strategies that result in the gifts unfolding over an extended time, donors and those advising them need to consider the possibility that the rules on how those gifts are treated for federal income tax purposes may change. There are many proposals calling for a change in the tax treatment of charitable gifts. While some proposals
Robert F. Sharpe, Jr., president of The Sharpe Group, Memphis, Tenn.
When planning for charitable gifts, especially those accomplished using strategies that result in the gifts unfolding over an extended time, donors and those advising them need to consider the possibility that the rules on how those gifts are treated for federal income tax purposes may change.
There are many proposals calling for a change in the tax treatment of charitable gifts. While some proposals advocate limiting or eliminating the charitable income tax deduction, others revisit the types of organizations that are eligible to receive tax-deductible contributions. Some proposals have suggested that only organizations that actively benefit the underprivileged and fulfi...
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