Comments Close on IRS' Excise Tax Plan for Donor-Advised Funds

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.