Tax Roundup: 2013 Year-To-Date Legislative and Regulatory Update

By: Christopher C. Scarpa

With less than half the year behind us, tax issues are dominating the legislative and regulatory developments that associations need to watch. The charitable contribution deduction and nonprofits' tax-exempt status are high on the agenda in Congress and at the IRS.

We started 2013 by falling over the fiscal cliff, and we returned to the edge again only to have sequestration go into effect on March 1. Meanwhile, the Internal Revenue Service has been busy with compliance studies involving the tax-exempt sector. And there continues to be talk of fundamental federal tax reform, including whether Congress will modify the rules for the charitable contribution deduction and revisit exempt organizations as a whole. ...