Current location:International Inklings news portal > world
The $230 billion donor
International Inklings news portal2024-05-09 09:39:14【world】5People have gathered around
IntroductionWASHINGTON (AP) — Congress and the Biden administration are considering what, if anything, should be
WASHINGTON (AP) — Congress and the Biden administration are considering what, if anything, should be done to tighten restrictions on donor-advised funds, an increasingly popular way for donors to set aside money to spend on charitable causes.
Driving the debates are questions about whether the country’s ultrawealthy are abusing the immediate tax deductions they receive from tucking money into DAFs, where the dollars can sit indefinitely or, more often, until donors decide which nonprofits to support. Many in the nonprofit world have opposed that characterization, arguing the accounts allow for an easy, no-frills style of giving that appeals to both wealthy and average American donors.
This week, the Internal Revenue Service held a public hearing to discuss its plan to regulate DAFs. The proposals include: altering the definition of what constitutes a donor-advised fund so that it applies to a broader swath of accounts; expanding the definition of donor advisers to include personal investment advisers who help manage assets in DAFs; and imposing new penalties on those who abuse the funds. If approved, the IRS would impose a 20% excise tax on donations that provide significant benefit to the donor, among other changes.
Address of this article:http://albania.olivelawfirm.net/content-50b399637.html
Very good!(996)
Related articles
- Moment Harry chuckles as he's asked 'are you happy to be home' during whistle
- Parents of Michigan high school shooter sentenced 10
- In Paris, students inspired by pro
- Not just for trolls! Four
- Lawyers' coalition provides new messengers for Black voter engagement
- Foreign diplomats impressed by traditional culture, high
- Williamson to lead New Zealand at the Twenty20 World Cup; Southee to make his 7th appearance
- Chinese foreign ministry official on US Secretary of State Blinken's visit to China
- The opening round of the Wells Fargo Championship is delayed with rain in the forecast
- Nadal tested in 3
Popular articles
Recommended
Another tennis player suspended for corruption linked to match
Syrian, Russian forces destroy 'terrorist' strongholds in N. Syria
Not just for trolls! Four
FAU's Vladislav Goldin to join Dusty May at Michigan, pulls name out of NBA draft
PrettyLittleThing billionaire Umar Kamani and new wife Nada host Disney
English Premier League takes another step toward introducing a spending cap
Overseas Chinese history museum opens new branch in S. China
Chinese defense minister holds video call with US counterpart
Links
- Xi Extends Condolences to Nepali President over Plane Crash
- Xi Extends Spring Festival Greetings to All Chinese
- Xi Presents Certificate of Order to Promote Military Officer to Rank of General
- Xi Story: Ensuring a Better Life for the People
- Xi Focus: Xi Stresses Building up China's Strength in Agriculture at Key Rural Work Conference
- Xi Stresses Need to Promote Full, Rigorous Party Self
- Xi Focus: 17
- Xi Focus: Ringing in 2023, Xi Stresses Hard Work, Unity to Make Tomorrow's China a Better Place
- Chinese, Turkmen Presidents Hold Talks, Elevating Ties to Comprehensive Strategic Partnership
- Xi on COVID