Thursday, December 8, 2011

R. Madoff on DAFs

Ray D. Madoff (Boston College) has published It's Time to Reform Donor-Advised Funds in Tax Notes (subscription required) and written a related NY Times Op-Ed titled Tax Write-Off Now, Charity Later.  Here is the summary of the Tax Notes article:

In this article, Madoff argues that the current law governing donor-advised funds provides too much of a benefit to donors and sponsoring organizations, without ensuring sufficient benefit to the charitable sector as a whole. Moreover, the current rules undermine the integrity of the tax system by implicating the government in a "wink and a nod" system that disproportionately benefits the wealthy. To remedy these problems, donor-advised funds should be subject to a seven-year payout requirement, and the rules should be revised to ensure that private foundations cannot satisfy their payout obligations simply by making transfers to a donor-advised fund.

LHM

http://lawprofessors.typepad.com/nonprofit/2011/12/r-madoff-on-dafs.html

In the News, Publications – Articles | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef0162fd87e6e3970d

Listed below are links to weblogs that reference R. Madoff on DAFs:

Comments

Post a comment