The Tax Act: Potential Impact on Private Foundations and Exempt Organizations
By now you have probably read in the media about highlights of the recently-released Tax Cuts and Jobs Act (HR 1) as it generally affects individuals and businesses. Delving further into the Act, we have prepared this bulletin for our private foundation clients so they are aware of how private foundations and other exempt organizations may be affected if this bill, as written, becomes law.
It must be expressed upfront that none of this information is cast in concrete at this point in time. We think, however, our clients will be interested in what may be on the horizon for their organizations.