Insights

The Securities and Exchange Commission (SEC) recently issued two proposed amendments. Both proposals are subject to a 60-day comment period following their respective publication in the Federal Register.

Recently, we received certain inquiries on the definition of “disqualified persons” at a foundation.  In connection therewith, we hope this bulletin will serve as a reference defining a disqualified person and helping to ensure that self-dealing at the private foundation does not occur.

As part of the extensive changes made by the Tax Cuts and Jobs Act (TCJA), often overlooked are the increased lifetime gift, estate and generation-skipping transfer (GST) tax exemptions.

The Internal Revenue Service (IRS) issued definitive final regulations in July 2018 that enacted changes to the substantiation and reporting requirements for charitable contributions and are effective beginning July 30, 2018.

The Internal Revenue Service (IRS) recently issued its Operational Compliance List (OCL) to help plan sponsors and practitioners achieve operational and “form” (i.e., plan documentation) compliance by identifying changes in qualification requirements effective during a calendar year.