End-of-Year Bipartisan Tax Package
Last week, House GOP Ways and Means Committee Chair Jason Smith (R-Mo.) conveyed his optimism on the prospect of a year-end tax package. Richard Neal (D-Mass.) suggested the impeachment inquiry...
Information and Resources for Donors and Professional Advisors
Sep 20th 2023
Michigan Charitable Tax Credit (Senate Bills 0127, 0128)
The Michigan State Legislature introduced the Michigan Charitable Tax Credit in early March. If reinstated, it would incentivize families of all income levels to give charitable donations to endowed funds...
Sep 6th 2023
Tax-Exempt Organizations and Political Activities
House Republicans have recently requested information on how tax-exempt organizations may be engaging in political activities. This may indicate a broader congressional probe and perhaps long-awaited updated IRS guidance on...
Aug 14th 2023
Senators Push IRS for Formal Guidance on NIL Tax-Exempt Status
In a recent letter to the IRS, Senators John Thune (R-S.D.) and Ben Cardin (D-Md.), who introduced the Athlete Opportunity and Taxpayer Integrity Act last year, want formal guidance that...
Jul 31st 2023
In Re Robert T. Keeler Maintenance Fund for the Hanover Country Club at Dartmouth College, Sup. Ct. New Hampshire
The New Hampshire Supreme Court recently ruled that Dartmouth College can repurpose money a deceased alumnus left for the sole purpose of maintaining the school’s golf course to support other...
Jul 13th 2023
Professional Organization Denied IRC Section 501(c) Status
In June, the IRS denied a professional organization tax-exempt status under Section 501(c)(3) in Letter 4034. The organization was dedicated to educating estate planning professionals and promoting cooperation among businesses...
Jun 30th 2023