Treasury Suggests No Change in Charitable Tax Policy

Treasury Suggests No Change in Charitable Tax Policy

News story posted in IRS Announcements on 12 June 1998| comments
audience: National Publication | last updated: 18 May 2011
Print
||
Rate:

Summary

Donald C. Lubick, a long-time IRS employee, recently moved to the post of Treasury Assistant Secretary for Tax Policy for the Clinton Administration. On June 9th, Mr. Lubick spoke in Washington, D.C. to a program on nonprofit organizations sponsored by The Urban Institute/Center on Nonprofits and Philanthropy. Apparently speaking on behalf of the Administration, Mr. Lubick commented that he did not anticipate substantive change occurring in 1998 in the laws governing exempt organizations. He did feel that the provisions of Sec. 170(e)(5) of the Code (whereby gifts of appreciated marketable securities held long-term by the donor to private foundations can be deducted at fair market value as opposed to the lesser of fair market value and cost basis) would be extended, but probably not by the time the law sunsets on June 30, 1998.

Donald C. Lubick, a long-time IRS employee, recently moved to the post of Treasury Assistant Secretary for Tax Policy for the Clinton Administration. On June 9th, Mr. Lubick spoke in Washington, D.C. to a program on nonprofit organizations sponsored by The Urban Institute/Center on Nonprofits and Philanthropy. Apparently speaking on behalf of the Administration, Mr. Lubick commented that he did not anticipate substantive change occurring in 1998 in the laws governing exempt organizations. He did feel that the provisions of Sec. 170(e)(5) of the Code (whereby gifts of appreciated marketable securities held long-term by the donor to private foundations can be deducted at fair market value as opposed to the lesser of fair market value and cost basis) would be extended, but probably not by the time the law sunsets on June 30, 1998.

Add comment

Login to post comments

Comments

Group details

  • You must login in order to post into this group.

Follow

RSS

This group offers an RSS feed.
 
7520 Rates:  Aug 1.2% Jul 1.2.% Jun 1.2.%

Already a member?

Learn, Share, Gain Insight, Connect, Advance

Join Today For Free!

Join the PGDC community and…

  • Learn through thousands of pages of content, newsletters and forums
  • Share by commenting on and rating content, answering questions in the forums, and writing
  • Gain insight into other disciplines in the field
  • Connect – Interact – Grow
  • Opt-in to Include your profile in our searchable national directory. By default, your identity is protected

…Market yourself to a growing industry