Thursday, March 28, 2019
Roger Colinvaux (Catholic), Fixing Philanthropy: A Vision for Charitable Giving and Reform, 162 Tax Notes 1007 (Mar. 4, 2019):
The article explains how Congress can advance the goals and values of philanthropy and address the crisis of the charitable sector with a number of legislative initiatives. These include expansion of the charitable giving incentive, reform of in-kind contributions, getting more money to working charities with a payout rule for donor advised funds (DAFs), and changing standards for private foundation transfers to DAFs.
Congress can also improve the worthiness of the charitable sector by maintaining the separation of politics and charity, supporting oversight (including by mandatory e-filing of returns), and by revisiting some of the rushed through ideas of recent tax legislation (the TCJA).