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Comments Close on IRS' Excise Tax Plan for Donor-Advised Funds
News February 16, 2024 at 01:34 PM
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What You Need To Know
- Proposed IRS regulations aim to prevent the misuse of DAFs by enforcing excise taxes on non-charitable distributions.
- The proposal would levy a 20% excise tax on DAF sponsors and a 5% tax on fund managers for taxable distributions.
- The regulations expand and clarify what kinds of distributions trigger the taxes.
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