Senate Bill Would Expand Charitable Deduction

A bipartisan group of senators introduced legislation this week to expand a tax break for charitable giving to encourage taxpayers to donate to nonprofit organizations impacted by the COVID-19 pandemic. The Universal Giving Pandemic Response Act, introduced by Senators James Lankford (R-OK), Chris Coons (D-DE), Mike Lee (R-UT), Jeanne Shaheen (D-NH), Tim Scott (R-SC) and… Read more »

IRS Limits Scope of Nonprofit Executive Compensation Tax

The IRS has issued proposed regulations on the 21 percent excise tax on nonprofit executive compensation over $1 million and excess parachute payments paid by tax-exempt organizations to top executives. The excise tax was created as part of the Tax Cuts and Jobs Act enacted by Congress in 2017. The proposed regulations address concerns in… Read more »

NC Bill Expands Sales Tax on Digital Content

The North Carolina Legislature is considering legislation that would broaden the state sales tax to include digital content offered by associations and other businesses. Associations offering on-demand webinars and other products in a digital form that aren’t free could be impacted by the bill. Certification tests would not be subject to the tax although online… Read more »

ASAE Asks for Answers on PA Membership Tax

ASAE delivered a letter March 4 to the Pennsylvania Department of Revenue (DOR) seeking more information about the department’s recent interpretation that membership fees to join a professional association are taxable if the member receives tangible personal property in addition to non-taxable services in exchange for their dues payment. The DOR rendered its interpretation in… Read more »

IRS Proposes Rules for Deducting Business Meals

The IRS last Friday released proposed rules for businesses to follow when deducting business meals and entertainment expenses following the 2017 tax overhaul. Prior to changes in the tax law, the deduction was limited to 50% of the cost of meal and entertainment expenses. The 2017 Tax Cuts and Jobs Act repealed the deduction for… Read more »