On Wednesday, December 20, Congress adopted sweeping tax reform and today, President Trump signed it into law. Most news coverage regarding tax reform has focused on its impact on tax-paying entities. However, the reform will also have a significant impact on exempt organizations. This summary reviews the key areas of the bill affecting 501(c)(3) entities and notes prior proposals that were abandoned in the final bill.
Attorney Advertising. Prior results do not guarantee a similar outcome. This publication is provided as a service to clients and friends of Harter Secrest & Emery LLP. It is intended for general information purposes only and should not be considered as legal advice. The contents are neither an exhaustive discussion nor do they purport to cover all developments in the area. The reader should consult with legal counsel to determine how applicable laws relate to specific situations. ©2017 Harter Secrest & Emery LLP