+Reaction to the IRS’s final regulations on charitable contributions and state and local tax credits is ricocheting from one extreme to another, with the only common ground seeming to be that nearly everyone is grumbling.
+David L. Thompson, vice president of public policy for the National Council of Nonprofits, said that “wherever you are in the country or on the political spectrum, there is something to upset everyone in the IRS rule released today.”
+#NonprofitTaxDay came and went on May 15, with the National Council of Nonprofitsand other advocacy organizations trying to garner attention on the new...
+While the economy is booming, some nonprofits are seeing a downturn in donations — a worrisome trend.
+“We are hearing from a lot of nonprofits that donors are bunching gifts through a donor-advised fund, where they can get the tax benefit while contributing,” says Jim White, executive director of the ...
+However, the increase in giving isn’t all good news. Much of the uptick was concentrated among wealthier donors giving to wealthier institutions.
+David Thompson, vice president for public policy at the National Council of Nonprofits, said he feared the new rules could have a chilling effect on nonprofit mergers and discourage talented workers from jumping into the nonprofit world.
+Jeff Shaw, director of public policy at the CT Nonprofit Alliance, which represents small- to medium-sized nonprofits, said the recent survey results are concerning, but he warned it's too early to determine whether the downturn in donations is a...
+Section 512(a)(7) of the tax law would impose an unrelated business income tax (UBIT) on the expenses of nonprofits that provide employees with transportation benefits, such as, transit passes and parking. ...
+Based on Mnuchin's and Brady's comments, and House Speaker Nancy Pelosi's recent statement that Democrats will take their time on fixes to the 2017 tax law, Thompson said he's not optimistic repeal will happen anytime soon.
