Community foundation leaders and tax practitioners are pushing back against IRS proposed regulations they say are too broad and could stifle giving through donor-advised funds, an increasingly popular philanthropic tool.
More than 40 representatives of industry groups, law firms, and community foundations will address IRS officials Monday and Tuesday, seeking changes before the rules become final.
Most say that finalizing the proposed regulations as written would have a chilling effect on charitable giving. Congressional tax writers also have urged the IRS to reconsider some parts of the regulations governing DAFs, favored among the ultra-wealthy who see them ...
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