Legislation Would Increase Taxpayer Protections, Require IRS Accountability to Congress, and Modernize IRS Systems

As the amount of wealth that women control continues to grow, we take a look at how their approach to planning and giving is different.

Last December I predicted the new Congress which started on January 3, 2019 would be gridlock plus. Well so far it is gridlock without the plus. The plus is my reference to a few policy areas that may attract bipartisan support despite the bitter budget battles in Washington.

Donor Advised Funds (DAFs) are charitable gift vehicles, sponsored by public charities that accept tax-deductible donations and invest them in a donor account until the donor requests that grants be made from the account to other IRS qualified charities.

The Tax Cuts and Jobs Act of 2017 includes a provision encouraging private sector investment in certain lower-income communities designated by the U.S. Treasury Department as “qualified opportunity zones”.

Tax Reform 2.0 is an attempt to give House Republicans something to offer voters on the campaign trail in October as they eye a political wave approaching in November that is likely to oust them from power.

As Congress prepares for its August recess and looks ahead to midterm elections, a great nervousness prevails over both Republicans and Democrats on the outcome of the election.