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Abstract: 

Philanthropists and private foundations have just a few weeks to undertake transactions for the 2016 tax year. This article focuses on key deadlines and requirements for claiming IRC §170 charitable contribution deductions for 2016 and avoiding the IRC §4942 excise tax on undistributed income. It also highlights new charitable giving incentives available to foundations under the PATH Act, and alerts private foundations and donors to some common pitfalls that often arise in the rush to meet the year-end deadline.

Keywords: IRC §170 charitable contribution deduction; IRC §4942 excise tax; Protecting Americans From Tax Hikes Act of 2015 (PATH Act)

Affiliations:  1: Strasburger & Price, LLP.