Internal Revenue Service Commissioner John Koskinen said in an interview this week with USA Today’s Susan Page that the IRS will likely rewrite the rule it proposed defining political activity of nonprofit organizations.
Last week, Senate Finance Committee Chairman Ron Wyden (D-OR) publicly voiced concern over a proposal of a “giving floor” on the charitable deduction at the annual meeting of the National Council of Nonprofits. He also reiterated his stance that the charitable deduction is a “lifeline, not a loophole.” From the National Council of Nonprofits:
Apr 4, 2014
Camp to Retire, Tax Extenders Advance, Some High Praise Offered
>> Federal: Camp Announces Retirement
>> Federal: Tax Extenders Move Forward
>> Federal: Ryan Releases Budget Blueprint
>> Consider This: Some High Praise
>> Top Reads: GOP Tax Reform’s Effect on Charitable Giving
By Robert F. Sharpe, Jr.
As the scaffolding is coming down around the Washington Monument, we are reminded of the importance of protecting and preserving America’s iconic symbols.
Many might be surprised to learn that the Washington Monument restoration project was only partially funded by Congress on the condition that public dollars would be matched by private contributions. Fortunately, a generous individual stepped forward with the required matching funds.
House Ways and Means Chairman Dave Camp (R-MI) announced Monday that he would not be seeking reelection this year.
Due to the lack of action on federal tax policy, many states have taken on the task of rewriting portions of their tax code. Michigan is just such an example.
Later today the House of Representatives will begin consideration of a bill seeking to boost charitable giving for recovery efforts related to Typhoon Haiyan, which devastated the Philippines last November. H.R. 3771, the Philippines Charitable Giving Assistance Act, is sponsored by Rep. Eric Swalwell (D-CA) and would allow contributions for Typhoon Haiyan recovery efforts made before April 15, 2014 to count as charitable deductions for tax year 2013. With many taxpayers about to complete tax filing for 2013, this could significantly boost relief efforts.
>> Federal: Reactions to Camp’s Draft Continue
>> Federal: Tax Extenders Activity Expected Soon
>> Federal: ACR Summit Wrap Up
>> Federal: Private Giving and George Washington’s Library
>> Consider This: It’s Going to be a Bumpy Ride
>> Top Reads: Tax reform puts charity on the chopping block
Mar 20, 2014
Regent of the Mount Vernon Ladies' Association Discusses Private Giving and Washington's Library
MOUNT VERNON, VA—Barbara Lucas, regent of the Mount Vernon Ladies’ Association, discusses the Fred W. Smith National Library for the Study of George Washington, the Mount Vernon Ladies’ Association, and the critical role private giving plays at Mount Vernon.
This is the second of a two-part feature on private giving and the Fred W. Smith National Library for the Study of George Washington. Click here to see part one of the feature.