WASHINGTON — Congress and the Biden administration are considering what, if anything, should be done to tighten restrictions on donor-advised funds, an increasingly popular way for donors to set aside money to spend on charitable causes.
The IRS proposal comes amid mounting concerns about money piling up in DAFs, with some calling for tighter regulations. Nearlyhas been stashed into DAFs, which have surpassed private foundations in popularity among a new generation of donors. There are nowaccounts, nearly double the number that existed in 2018, according to the National Philanthropic Trust, a leading sponsor of the funds, which also publishes an annual report on their growth.
The push to include investment advisers within the definition of donor advisers subject to enforcement action related to DAFs also was raised several times. Unlike investment advisers, donor advisers are not allowed to benefit directly from the account transactions they oversee. “That is a really big issue, the warehousing of wealth that people have gotten deductions today for and actually aren’t helping people for who knows how long into the future,” Hitoshi Mayer said.
The judge in Trump's criminal trial agreed to cancel court proceedings on May 17 so the former president could be in West Palm Beach with his son and familyFinland Government Scholarships 2024 Opinion: Stormy Daniels Put Trump’s Toxic Horniness on Full Display The federal government has cancelled an Ajax, Ont., woman's Canadian citizenship over an error it said it made more than 30 years ago — forcing her to pay hundreds of dollars in a bid to get it back.In September, Arielle Townsend received a letter from Immigration, Refugees and Citizenship Canada , saying her Canadian citizenship was at risk of being revoked, as previously reported by CBC Toronto.