Charitable Reforms May Be Included in Tax Reconcilliation Bi

From BNA: (subscription required) The release of a mark for the Senate Finance Committee's tax reconciliation bill may be put off by a day, as the committee continues to look for ways to navigate the stripping--at least for now--of $10 billion in tax cutting authority. An aide told BNA Nov. 4 the mark would likely be issued Nov. 8, a day later than previously expected, in anticipation of a markup Nov. 10. The committee continues to search for as many offsets as possible. Finance Chairman Charles Grassley (R-IA) said recently that the $12 billion in revenue that could be gleaned from codification of the economic substance doctrine makes it a likely contender for inclusion in the package. Aides said revenue-raising charitable reforms may make it into the bill, but probably only to offset charitable incentives if those breaks are pushed by Finance members. Reforms dealing with donor-advised funds, facade easements, and a tightening of rules on non-cash donations are seen as topping the list for possible reform provisions.
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