- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax Update - 1.0
TCJA and Nonprofits with Endowments
On December 22, 2017, President Trump signed into law H.R. 1, the sweeping tax reform legislation commonly referred to as the Tax Cuts and Jobs Act (TCJA). Earlier drafts of the bill proposed major changes to the Internal Revenue Code related to tax-exempt entities. Many of the proposed changes were excluded from the final version of the bill, however, the TCJA contains significant changes for many tax-exempt entities effective January 1, 2018. It is important that practitioners be aware of the changes to properly advise both tax-exempt entities and donors.
After completing this chapter, the user should be able to:
analyze a variety of issues related to impact of the Tax Cuts and Jobs Act on tax-exempt organizations.