Congress Considering Tax Reform Bills With Major Impacts on Tax-Exempt Organizations (Update Dec. 4, 2017)

    View Authors December 2017

    The US House of Representatives and the US Senate have each passed tax legislation that could have a major impact on tax-exempt organizations. Both the Senate and House bills make changes that could have effects upon charitable giving, decrease tax-favored financing alternatives, alter the tax treatment of certain employee compensation, loosen the rules on political activity, change the treatment of unrelated business taxable income, alter the rules pertaining to private foundations, and impose new taxes on colleges and universities as well as students.

    The bills appear to be headed to a conference committee to resolve their differences.This alert highlights provisions of the two bills that may affect tax-exempt organizations.