IRS

In this week's Washington Snapshot: Upcoming Ways & Means Hearing Will Address Tax Reform; New Changes to IRS Advisory Committee on Exempt Organizations; Update: New Jersey Hospital Property Tax Remains in Flux; Illinois Leading Efforts to Implement Federal Grants Reform; Philanthropy is Projected to Increase in 2016 and 2017; and more!

In this week's Washington Snapshot: Treasury, IRS Withdraw Proposed Rule for Gift Substantiation; DAFs & Child Sponsorship to Charities; State Policy Action in 2015 Predicts Focus Areas in 2016; Update on Financial Action Task Force (FATF); National Taxpayer Advocate Names 1023-EZ Third Most Serious Problem; and more!

In this week's Washington Snapshot: Senate Passes Permanent IRA Charitable Rollover; Council Submits Comments on IRS Gift Substantiation Proposal; Omnibus Blocks IRS Political Activity Rulemaking; FASB votes to Revise Nonprofit Presentation of Cash Flows; DAFs, IRAs, & BFFs; Pay For Success Programs Offer "No Free Lunch"; and more!

A proposed rule by the IRS would allow charities to file an additional information return by February 28th each year that includes taxpayer identification information for donors who contribute $250 or more, and provide a copy of the return to these donors in lieu of a contemporaneous written acknowledgment. The Council believes this rule is problematic, and submitted comments to the Treasury Department voicing our concerns. Notably, these comments reflected concern for 1) the administrative burden this process would place on charitable organizations to collect this information from donors, 2) the privacy of donors’ sensitive information, 3) the deterrent effect this could have on charities’ relationships with their donors, and 4) the “slippery slope” it poses to evolve from an optional method to a mandatory requirement.

In this week's Washington Snapshot: Extender Negotiations Coming Down to the Wire; CRS Releases New Report on Endowments; Comments for IRS Gift Substantiation Proposal Due Soon; New Jersey Tax Challenge Heard 'Round the Country; Oregon Op-Ed Explains Why Charitable Giving Incentives are Important; and more!

In this week's Washington Snapshot: Take Action Now on Extenders; Bill Introduced to Simplify Car Donations; Comments for IRS Gift Substantiation Proposal Due Soon; Update on Financial Action Task Force (FATF); Donor Initiated Funding and the Public Support Test; Governors Order Nonprofits to Deny Services to Syrian Refugees; Domestic Philanthropy and Sustainable Development Goals; White House Briefing on Syrian Refugee Crisis; and more!

In this week's Washington Snapshot: Urge Congress to Make Charitable Tax Extenders Permanent; New PRI Bill Introduced in Senate; Ways & Means Subcommittees; Input Needed: Council Comments on IRS Gift Substantiation Proposal; FATF Seeks Comments from Nonprofits; State Budget Challenges Continue, Worsen; Community Foundation Week Highlights; DC Bar Event on Private Foundation Rules; and more!

In this week's Washington Snapshot: Don't Miss out on Community Foundation Week; News from the Hill; Regulatory News; Happening Around the Globe; Trending in Legal Affairs; Happening in the States; Philanthropy News & Op-Eds; and more!

In this week's Washington Snapshot: Community Foundation Week Starts Next Thursday; News from the Hill; Regulatory News; Trending in Legal Affairs; Happening in the States; Philanthropy News & Op-Eds; and more!