Please hold this date for an upcoming webinar from the United Philanthropy Forum. The Senate and House have passed tax bills and are now in the conference process, where they will reconcile the bills into one bill that they will hope to pass into law.
Currently neither the House nor the Senate bills include a Universal Charitable Deduction to offset what is predicted to be a loss of up to $22 billion dollars annually to the sector due to other changes in current tax law. The other big risk is that the Johnson Amendment repeal was included in the House bill, but not the Senate bill, and remains a serious threat. The Johnson Amendment currently prohibits 501(c)(3) charitable organizations from endorsing, opposing or contributing to political candidates and engaging in partisan campaign activities, and its repeal would result in the charitable sector being politicized and used as a vehicle for campaign financing and dark money. It would also result in a loss of trust and neutrality for the charitable sector that is critical to our democracy. This webinar will provide updates on where Tax Reform stands and the impact on the sector. It will also explore what action is needed from Philanthropy Serving Organizations and their members in the first quarter of the year.
Stay tuned for registration details.