IRS Has Plan to Shut Down SALT Workarounds

IRS Has Plan to Shut Down SALT Workarounds

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Much is at stake, said David L. Thompson of the National Council of Nonprofits, adding that several arguments need to be addressed during the public comment period.

“When governments create ‘nonprofit-like’ organizations, they blur the line between governments and nonprofits, confusing the public and potentially dragging charitable nonprofits into the sphere of cynicism that has become the hallmark of partisan politics today,” Thompson said. “It is apparent that Treasury and the IRS are seeking to invalidate a wide range of state programs that provide tax credits while preserving those that allow tax deductions.” The council recognizes that arguments exist both for and against providing favored tax treatment for such government-created foundations, he added.

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