Charitable Giving Dropped After 2017 Tax Law

Donations to charities dropped by 1.7 percent last year after inflation, according to a report released this week by Giving USA. While corporate and foundation donations increased overall, giving by individuals dropped 3.4 percent last year. The overall decrease is the first drop in charitable giving in the U.S. since the Great Recession, the report… Read more »

W&M Hearing to Focus on Fringe Benefits Tax

The House Ways and Means Oversight Subcommittee will hold a hearing June 19 focused on ending the 21 percent unrelated business income tax on certain employee benefits provided by associations and other tax-exempt organizations. ASAE and its UBIT Coalition have been pushing Congress to repeal the tax for more than a year. The tax, enacted… Read more »

UBIT Comes Up at Ways and Means Hearing

Rep. Ben McAdams (D-UT) this week urged his fellow members of the powerful House Ways and Means Committee to repeal the unrelated business income tax on certain employee benefits provided by associations and other types of nonprofit groups. The tax is on benefits such as parking and transportation, and is proving to be a huge… Read more »

CRS Report: Tax Law’s Impact was Minimal

A new report from the nonpartisan Congressional Research Service suggests the effects of the 2017 GOP tax law have been minimal. The massive tax overhaul ushered through at the end of 2017 was touted by President Trump this month as “rocket fuel for the American economy,” but the CRS reported last week that in 2018,… Read more »