One Big Beautiful Bill – May 22, 2025 President Trump’s sweeping 1,000 page tax and spending bill, One Big Beautiful Bill (“OBBB”), cleared a hurdle on Wednesday following a Congressional session lasting...
With the new year underway, the Community Foundation for Southeast Michigan is watching the shifting landscape in Washington, D.C., with a Republican-led Congress and President Trump’s return to the executive...
U.S. Supreme Court overturns the Chevron doctrine The severe blow recently dealt to federal agencies by the U.S. Supreme Court in overturning the Chevron1 doctrine in Loper Bright Enterprises v. Raimondo; Relentless, Inc. v. Dept...
IRS issues final regulations on SECURE Act and SECURE 2.0 On July 18, 2024, the IRS issued final regulations on distributions from retirement plans relating to the SECURE Act passed...
Two recent federal court decisions shed new light on the ongoing wave of DEI-related challenges following the Supreme Court’s 2023 Students for Fair Admissions, Inc. American Alliance for Equal Rights v....
The Supreme Court cut back sharply on the power of federal agencies to interpret the laws they administer and ruled that courts should rely on their own interpretation of ambiguous...
Due to a sunset provision built into the TCJA, unless Congress intervenes, the federal exemption from transfer taxation (currently $13.61 million per person) is scheduled to decrease to approximately $7...
The Donor Advised Fund Research Collaborative (DAFRC) has released the 2024 National Study on Donor Advised Funds. This is the largest independent study on donor advised funds to-date. 111 DAF...
On February 29, 2024, the Department of Treasury issued a notice of a public hearing on the Proposed Regulations which will be held on May 6, 2024, at the IRS....
The EPIC Omnibus bill was signed into law on February 21, 2024, and takes immediate effect. 2024 PA 1. The new law, put forward by the Probate and Estate Planning Section...