Tax Law Changes in Taxpayer Certainty and Disaster Relief Act
Author: Katherine E. David, J.D..
Source: Volume 19, Number 02, January/February 2020 , pp.5-5(1)
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Abstract:
On December 20, 2019, President Trump signed the “Taxpayer Certainty and Disaster Relief Act of 2019” (the Act) as part of an omnibus spending package. We examine several provisions in the Act that affect private foundations and charitable giving, including changes to private foundation excise tax on investment income, repeal of IRC 512(a)(7), and changes to the IRC §170(b) limitations on deductibility of contributions for disaster relief.Keywords: Taxpayer Certainty and Disaster Relief Act of 2019; IRC §4940(a); Repeal of IRC 512(a)(7); IRC §170(b)
Affiliations:
1: Clark Hill PLC.