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| home > legislative update > 02.14.07
Legislative Update - February 14, 2007 In lieu of this afternoon’s conference call, the following is a legislative update. This will also be posted on our website at www.acreform.com. New: Internal Revenue Service Commissioner Mark Everson, in recent public comments, stated that combating taxpayers who are abusing the tax status of charities and other exempt entities is one of his two top priorities. It is unclear whether Everson plans to focus his resources on regulatory actions aimed at the community or whether he also intends to suggest legislative changes aimed at the community. As such, the Alliance for Charitable Reform will continue to monitor these developments and will keep everyone apprised of any updates. The House of Representatives is poised to pass another tax bill this week – this one aimed at relief for small businesses. The $1.8 billion in tax relief is fully offset with relatively non-controversial tax increases. The House and Senate are expected to begin a conference on the small business tax bill to work out the differences between the House and Senate versions. As you may recall, the Senate version provided $8 billion in tax relief and was fully offset. One of the offsets that were swiftly approved is a provision to limit a type of executive compensation, known as deferred compensation. We believe this provision could be used by some on the Committee as a marker for additional reforms relating to the issue of compensation in charitable organizations.
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