Legislation

April 20, 2009, The Chronicle of Philanthropy — The Internal Revenue Service has announced a change in leadership in the office of its top charity regulator.

Wondering what the economic stimulus bill recently signed into law by President Obama means for your organization? The National Council of Nonprofits recently released a series of special reports that analyze the bill.

FALLS CHURCH, Va., April 20, 2009 — Tax Analysts, the nonprofit provider of federal, state and international tax news and analysis, announced its launch today of a new monthly column, "The Partnership Tax Report."

DES MOINES, Iowa, April 15, 2009 — Non-profit employers who sponsor 403(b) retirement plans have their work cut out for them. In 2010 they’ll face rigorous new reporting requirements including submitting a full Form 55001 and, for larger plans, an independent plan audit.

Washington, April 7, 2009, The Chronicle of Philanthropy — The Internal Revenue Service is working to help “protect the trust and confidence” in nonprofit organizations during the current economic crisis and will be watchful of possible abuse, says Lois G. Lerner, who oversees the IRS office that monitors charities and foundations.

President Obama defends his proposal to cut the tax deductions that wealthy Americans can claim for their charitable donations by arguing that the shift would not have an adverse effect on giving, but two independent analyses concluded that the proposal could result in a drop of as much as $3.87 billion for the already reeling nonprofit sector.

A handful of senators introduced a tax-policy change Tuesday that they say would encourage charitable foundations to increase their giving.

Three senators introduced legislation Tuesday intended to encourage foundations to give away more of their money.

For more than half a century, charities have been barred by federal law from making contributions to political campaigns.

The Council on Foundations has decided to oppose President Obama’s proposal to limit the tax break wealthy Americans get for charitable deductions, fearing that it would dampen giving, Steve Gunderson, the group’s president, said today.