NTA Blog: Giving Thanks, Giving Tuesday (November 29): Tax Benefits and Charitable Contributions (November 22, 2022)

The National Taxpayer Advocate has made available for download their article, “Giving Thanks, Giving Tuesday (November 29): Tax Benefits and Charitable Contributions”, published in The National Taxpayer Blog. The article begins as follows: On Thanksgiving, together with my family, I will pause, reflect, and give thanks for the good in my life, both personally and … Continue reading NTA Blog: Giving Thanks, Giving Tuesday (November 29): Tax Benefits and Charitable Contributions (November 22, 2022)

KPMG report: Post-TCJA interplay between NOLs and charitable deductions (June 14, 2022)

KPMG has issued a report on charitable contributions and NOL deductions available to corporations. The summary is as follows: Corporations face complexities—and potential benefits—if they have charitable contributions and net operating loss (NOL) carryovers available for deduction on their 2021 returns.The interplay between charitable contribution deductions and NOL loss deductions has long bedeviled tax practitioners. … Continue reading KPMG report: Post-TCJA interplay between NOLs and charitable deductions (June 14, 2022)

KPMG: JCT report on federal tax treatment of charitable contributions ahead of Finance Committee hearing (March 11, 2022)

KPMG reports that the Joint Committee on Taxation (JCT) released a hearing document containing an overview of the present law rules relating to the federal tax treatment of charitable contributions. It’s summary begins as follows: The Senate Finance Committee has scheduled a public hearing for March 17, 2022, concerning the topic “Examining charitable giving and … Continue reading KPMG: JCT report on federal tax treatment of charitable contributions ahead of Finance Committee hearing (March 11, 2022)

NY Times (November 15, 2021): The Consulting Firm Billionaires Turn to When They Give Away Money

Nicholas Kulish, in his New York Times article, discusses the little-known Bridgespan Group that is guiding philanthropic efforts of America's wealthiest donors. His article, “The Consulting Firm Billionaires Turn to When They Give Away Money”, begins as follows: MacKenzie Scott stepped out of the long shadow of her former husband, the Amazon founder Jeff Bezos, by handing … Continue reading NY Times (November 15, 2021): The Consulting Firm Billionaires Turn to When They Give Away Money

Bloomberg – MacKenzie Scott’s Money Bombs Are Single Handedly Reshaping America (August 12, 2021)

Sophie Alexander, Szu Yu Chen and Shera Avi-Yonah, of Bloomberg, have have made available for download their article, MacKenzie Scott’s Money Bombs Are Single Handedly Reshaping America, published in Bloomberg. The article begins as follows: One email about a $15 million gift, suspected of phishing, sat unopened for a month. Several others about a $20 … Continue reading Bloomberg – MacKenzie Scott’s Money Bombs Are Single Handedly Reshaping America (August 12, 2021)

Paul Sullivan, Wealth Matters, NY Times (July 30, 2021): Nonprofits Get a New Type of Donation: Cryptocurrency

Paul Sullivan’s weekly New York Times Wealth Matters column focuses on cryptocurrency donation. His article, "Nonprofits Get a New Type of Donation: Cryptocurrency," begins as follows: The University of Pennsylvania recently announced a $5 million gift to Wharton, its business school. The donation was not one of its largest, but the university announced the gift … Continue reading Paul Sullivan, Wealth Matters, NY Times (July 30, 2021): Nonprofits Get a New Type of Donation: Cryptocurrency

NY Times – Nonprofits Get a New Type of Donation: Cryptocurrency (July 30, 2021)

Paul Sullivan, of The New York Times, has made available for download his article, "Nonprofits Get a New Type of Donation: Cryptocurrency," published in The New York Times. The article begins as follows: The University of Pennsylvania recently announced a $5 million gift to Wharton, its business school. The donation was not one of its largest, but … Continue reading NY Times – Nonprofits Get a New Type of Donation: Cryptocurrency (July 30, 2021)

TaxProf Blog – A Majority Of Donor-Advised Funds Send Little/No Money To Charity Every Year (July 17, 2021)

Paul Caron has published an article on the TaxProf Blog, titled "A Majority Of Donor-Advised Funds Send Little/No Money To Charity Every Year,” which discusses one of the first studies ever to look at donor-advised funds on a micro level and possible effects upon legislation. The article begins as follows: One of the first studies … Continue reading TaxProf Blog – A Majority Of Donor-Advised Funds Send Little/No Money To Charity Every Year (July 17, 2021)

Dan Parks and Eden Stiffman: Value of Charitable Deduction for All Americans Still Unclear (June 17, 2021)

Dan Parks and Eden Stiffman, members of The Chronicle of Philanthropy, have made available for download their article “Value of Charitable Deduction for All Americans Still Unclear”, published in The Chronicle of Philanthropy. The abstract is as follows: The share of Americans who give has been on a steep decline in recent decades, even as … Continue reading Dan Parks and Eden Stiffman: Value of Charitable Deduction for All Americans Still Unclear (June 17, 2021)

NY Times (June 9, 2021): How Long Should It Take to Give Away Millions?

Nicholas Kulish, in their New York Times article, discuss a Senate bill that aims to change philanthropy laws. The article, “How Long Should It Take to Give Away Millions?,” includes the following commentary: The billionaires, former government officials and academics gathered in a Manhattan conference room to brainstorm solutions to a problem they had all been … Continue reading NY Times (June 9, 2021): How Long Should It Take to Give Away Millions?

Philip Hackney: Dark Money Darker? IRS Shutters Collection of Donor Data (May 28, 2021)

Philip Hackney, of University of Pittsburgh - School of Law, has made available for download his article, "Dark Money Darker? IRS Shutters Collection of Donor Data," published in Florida Tax Review, Vol. 25 (Forthcoming, 2021). The abstract is as followed: The IRS ended a long-time practice of requiring most nonprofits to disclose substantial donor names … Continue reading Philip Hackney: Dark Money Darker? IRS Shutters Collection of Donor Data (May 28, 2021)

Forbes: Two Powerful Charitable Giving Strategies—Compared (April 17, 2021)

Forbes has published an article, “Two Powerful Charitable Giving Strategies—Compared,” which clarifies to readers the difference between choosing the appreciated securities or an IRA. The article begins as follows: The 2017 tax law, with its huge standard deduction, did serious damage to the tax benefits of philanthropy: Now, for a lot of taxpayers, cash donations … Continue reading Forbes: Two Powerful Charitable Giving Strategies—Compared (April 17, 2021)

Edward A. Zelinsky: A Response to the Initiative to Accelerate Charitable Giving (January 28, 2021)

Edward A. Zelinsky, of the Benjamin N. Cardozo School of Law at Yeshiva University, has published an article in Tax Notes. His article, titled "A Response to the Initiative to Accelerate Charitable Giving," begins as follows: The Initiative to Accelerate Charitable Giving describes itself as “a broad coalition dedicated to promoting common-sense, nonpartisan charitable giving reforms.”1Among its … Continue reading Edward A. Zelinsky: A Response to the Initiative to Accelerate Charitable Giving (January 28, 2021)

Jean Gordon Carter, Michele McKinnon, and Bradley Ridlehoover (McGuireWoods LLP): Charitable Lead Annuity Trusts: Planning Opportunities in Today’s Low-Interest-Rate Environment (February 12, 2021)

Jean Gordon Carter, Michele McKinnon, and Bradley Ridlehoover, of McGuireWoods LLP, have made available for download their article, Charitable Lead Annuity Trusts: Planning Opportunities in Today’s Low-Interest-Rate Environment, published in JDSUPRA. The abstract is as follows: As the pandemic continues to hinder nonprofits’ ability to fundraise effectively and connect with supportive donors, a charitable lead annuity trust … Continue reading Jean Gordon Carter, Michele McKinnon, and Bradley Ridlehoover (McGuireWoods LLP): Charitable Lead Annuity Trusts: Planning Opportunities in Today’s Low-Interest-Rate Environment (February 12, 2021)

NY Times (January 30, 2021): How Women Are Changing the Philanthropy Game

Valeriya Safronova, in her New York Times article, focuses on the growing number of women who are embracing individual identities in philanthropy. Her article, “How Women Are Changing the Philanthropy Game,” includes the following commentary: ...In recent years, with the rise of women in the workplace and the growth of movements centering their experience, women’s giving has … Continue reading NY Times (January 30, 2021): How Women Are Changing the Philanthropy Game

Paul Vallely, The Guardian (September 8): How philanthropy benefits the super-rich

Paul Vallely's The Guardian column focuses on the benefits of philanthropy. His article, How philanthropy benefits the super-rich, begins as follows: hilanthropy, it is popularly supposed, transfers money from the rich to the poor. This is not the case. In the US, which statistics show to be the most philanthropic of nations, barely a fifth … Continue reading Paul Vallely, The Guardian (September 8): How philanthropy benefits the super-rich

Treasury Issues Proposed UBIT Regs (April 24, 2020)

Treasury has issued proposed regulations that clarify a provision in the 2017 tax law that requires nonprofit organizations to calculate unrelated business income tax ("UBIT") separately for each trade or business. The summary for the proposed regs is as follows: This document contains proposed regulations that provide guidance on how an exempt organization subject to … Continue reading Treasury Issues Proposed UBIT Regs (April 24, 2020)

Tax Policy Center Conference: Taxes and the Future of Philanthropy (Feb. 18, 2020)

The Urban-Brookings Tax Policy Center and the American Tax Policy Institute held a joint conference on February 18, 2020 on Taxes and the Future of Philanthropy. The summary of the conference is as follows: The philanthropic sector currently faces a difficult challenge: Recent changes to the tax law leave only about 10 percent of households, … Continue reading Tax Policy Center Conference: Taxes and the Future of Philanthropy (Feb. 18, 2020)

TaxProf Blog – Bryan Camp: Lesson From The Tax Court: Drafting Error Costs Client $16 Million Deduction (Feb. 10, 2020)

Bryan Camp has published an article on the Tax Prof Blog, entitled Lesson From The Tax Court: Drafting Error Costs Client $16 Million Deduction (Feb. 10, 2020).  The article begins as follows: Tax statutes and tax regulations mostly use words to talk about numbers.  One of the basic lessons I must teach students is how … Continue reading TaxProf Blog – Bryan Camp: Lesson From The Tax Court: Drafting Error Costs Client $16 Million Deduction (Feb. 10, 2020)

Railroad Holdings, LLC v. Commissioner, T.C. Memo 2020-22 (Feb. 5, 2020): LLC Not Entitled to Charitable Conservation Deduction for Conservation Easement

In Railroad Holdings, LLC v. Commissioner, T.C. Memo 2020-22 (Feb. 5, 2020) the Tax Court held that an LLC was not entitled to a charitable contribution deduction for a conservation easement. The taxpayer executed a deed declaring a conservation easement in favor of a tax-exempt charitable organization. The deed provided that, if the easement was … Continue reading Railroad Holdings, LLC v. Commissioner, T.C. Memo 2020-22 (Feb. 5, 2020): LLC Not Entitled to Charitable Conservation Deduction for Conservation Easement