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IRS Proposes Regulations on New Section 199A Passthrough Deduction

On August 8, the Internal Revenue Service (IRS) and the Department of the Treasury released proposed regulations on new section 199A, the 20 percent deduction for qualified business income, added to the Internal Revenue Code...more

Charitable Giving After Tax Reform

Public Law No. 115-97, enacted Dec. 22, 2017, and informally known as the 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”), contains several provisions that, in the aggregate, may have a substantial effect on charities and...more

Tax Reform: Modifications to the Conference Committee’s Bill

On Dec. 19, the Senate parliamentarian ruled that three provisions in the Tax Cuts and Jobs Act violated Senate procedure. These provisions, which were subsequently removed, related to the use of 529 savings accounts for...more

What the New Tax Law Means for Individuals and Closely Held Business Owners

December 20, 2017 President Trump intends to sign into law H.R. 1 (the act), the most comprehensive change to the Internal Revenue Code since 1986. The text of the act numbers nearly 500 pages. What follows is a brief summary...more

Tax Cuts and Jobs Act: The Conference Committee’s Bill

The House-Senate Conference Committee released the revised “Tax Cuts and Jobs Act” on Dec. 15, 2017. This compromise bill made major changes to the separate bills that the House and Senate passed earlier this year. Both...more

Tax Cuts and Jobs Act: Senate Bill Revisions Affecting Tax-Exempt Organizations

The U.S. Senate produced its version of the Tax Cuts and Jobs Act early on the morning of Dec. 2, 2017. Most of its terms closely track the Chairman’s Mark that the Senate Finance Committee approved Nov. 16, but a few key...more

A Comparison of Key Provisions for Tax-Exempt Organizations

The Senate weighed in on tax reform by releasing a revised Chairman’s Mark of the “Tax Cuts and Jobs Act” on Nov. 14, 2017. Many provisions of the Chairman’s Mark closely track the House bill, but the two differ substantially...more

Tax Cuts and Jobs Act: Amendments Affecting Tax-Exempt Organizations

Federal tax reform continues as House Ways and Means Committee Chair Kevin Brady (R-Texas) offered his second amendment to the Tax Cuts and Jobs Acts on Nov. 9, modifying recently introduced legislation discussed in...more

Key-Provisions-Tax-Cuts-Jobs-Act-Tax-Exempt-Organizations

The debate over federal tax reform officially began Nov. 2, 2017, when House Ways and Means Committee Chair Kevin Brady (R-Texas) introduced H.R.1, the Tax Cuts and Jobs Act. Several provisions of the legislation affect...more

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