Monthly Advocacy Updates

Listen to the May Advocacy Update where Perry Wasserman, CGP’s DC lobbyist, discusses the Charitable Giving Tax Deduction Act and the recent IRS Notice. This is FREE to CGP National members and $20.00 for non-members.

CGP Members: Free

Non-Members: $20.00

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Charitable Giving tax Deduction Act introduced in House May, 10, 2018

A bipartisan bill, the Charitable Giving Tax Deduction Act, was introduced today by Congressman Chris Smith (R-NJ) with Rep. Henry Cuellar (D-TX) as an original co-sponsor, to protect taxpayers and encourage charitable giving.

“Charitable organizations, including churches, synagogues, and other religiously-based entities, are the life-blood of services to those in need in our society, and I am committed to a tax policy that amplifies their ability to serve our community,” said Rep. Smith. “Americans have been generous patrons of charitable causes, and we want to ensure that everyone has the support they need to continue their generosity to charitable and philanthropic causes.” Read more...

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IRS Notice and Request for Comments​

The Internal Revenue Service and U.S. Treasury Department released Notice 2017-73 (Request for Comments on Application of Excise Taxes With Respect to Donor Advised Funds in Certain Situations), seeking comments to help them develop donor-advised fund regulations in three specific areas. Written comments must be submitted by March 5, 2018 and may be emailed to the IRS at Notice.Comments@irscounsel.treas.gov (with “Notice 2017-73” entered in the subject line).

“While the Treasury Department and the IRS continue to develop proposed regulations that would, if finalized, comprehensively address donor advised funds, this notice is intended to provide interim guidance on these specific issues and to solicit additional comments in anticipation of the issuance of further guidance.” – Notice 2017-73

 

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