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November 13, 2023

IRS releases proposed rules on donor advised funds

Treasury and the IRS have released long-awaited proposed regulations (REG-142338-07) regarding excise taxes on (1) sponsoring organizations making taxable contributions from a donor advised fund (DAF) and (2) certain fund managers making these distributions. The proposed regulations generally would apply to certain charitable organizations, including community foundations and other sponsoring organizations of one or more DAFs, and to other persons involved with the DAFs, including donors, donor-advisors, related persons and certain fund managers. Taxpayers may rely on the proposed regulations until final regulations are published in the Federal Register.

Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor