May 24, 2018

Reuters: U.S. Treasury Readies Crackdown on SALT Workarounds

media mention

But the nonpartisan Institute on Taxation and Economic Policy, or ITEP, warned that narrow action could have unintended consequences for federal charitable donations if the government imposes arbitrary distinctions between different types of organizations. The group said Congress is better positioned to act fairly.

“The gifts being made under these schemes are not truly ‘charitable’ according to any commonsense definition of that word, since taxpayers are made financially better off by their gifts,” ITEP said in a report released on Wednesday.

“But fixing this problem will be more difficult than many observers have recognized,” it added. Read more