Message from the Firm
By Michael B. Luftman
This is our third newsletter on the Pension Protection Act of 2006, and it addresses the subjects of supporting organizations and donor advised funds. Given that these types of entities and public charities, such as the Salvation Army and The American Cancer Society, act in a similar fashion, the IRS has found that people have used these type of entities to take advantage of the tax system. The changes discussed in the following articles are designed to make supporting organizations and donor advised funds function
like real public charities. And, if they don’t, they will be treated as
private foundations, eliminating many of the benefits.
Reprinted with permission, © 2006 Reish Luftman Reicher & Cohen. All rights reserved. The Reish Luftman Reicher & Cohen Trust and Estate Advisor Report is published as a general informational source. Articles are general in nature and are not intended to constitute legal advice in any particular matter. Transmission of this report does not create an attorney-client relationship. Reish Luftman Reicher & Cohen does not warrant and is not responsible for errors or omissions in the content of this report.
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Tax, Estate Planning & Probate
