Over the last several months, the U.S. Senate Finance Committee, as part of its tax reform efforts, has issued bipartisan option papers containing reform proposals in all areas of the tax code. On June 13, 2013, the Senate Finance Committee staff released a paper addressing reform proposals for tax-exempt organizations and charitable giving.
The tax-exempt organizations and charitable giving reform proposals include a non-exhaustive list of prominent tax reform options that are not necessarily endorsed by either the Chairman or Ranking Member of the Senate Finance Committee. All tax-exempt organizations should follow the tax code reform developments as several of the options raised may affect incentives for charitable giving, as well as the permitted activities of tax-exempt organizations.
For more information on the options listed in the June 13, 2013 paper on tax-exempt organizations and charitable giving reform proposals, please click here.
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