The President's Advisory Panel on Federal Tax Reform yesterday presented its final report in which it made sweeping recommendations to overhaul the federal income tax system for individuals and corporations. The bipartisan panel offered six recommendations to strengthen incentives for charitable giving and improve tax administration.  MORE »

In an April 13 statement of administration policy, the Bush administration said it "strongly supports" House passage of H.R. 8, which would permanently repeal the estate tax.  MORE »

An executive order signed January 7 by President Bush announces the creation of a tax reform advisory panel comprising nine members appointed by him, with the purpose of submitting to the secretary of the Treasury revenue-neutral tax reform proposals in a report to be delivered no later than July 31, 2005. The panel was asked to recognize "the importance of homeownership and charity in American society."  MORE »

According to a news release by the Government Relations Committee of the National Committee on Planned Giving, President George W. Bush at a White House Conference on Faith-Based and Community Initiatives held June 1st gave new assurances the White House is fully in support of the CARE Act and the IRA charitable rollover provision.  MORE »

The Bush administration has announced in a bipartisan charitable giving compromise bill, the Charity Aid, Relief, and Empowerment Act of 2002 (CARE), cosponsored by Sens. Joseph I. Lieberman, D-Conn., and Rick Santorum, R-Pa., that includes some of the administration's tax incentives and faith-based initiatives. The bill would give the charitable contribution deduction to nonitemizers, allow tax-free distributions from IRAs for charitable purposes, increase the percentage limit for corporate charitable contributions, and allow some eligible lower-income Americans to set up individual development accounts (IDAs).   MORE »

During a visit to a local charity, President Bush called on Americans to support charities of all kinds, especially during the holiday season. The President also announced more than $1 billion in new grants to help the homeless and encouraged Congress to pass legislation enacting his Armies of Compassion initiative to significantly expand incentives for charitable giving.   MORE »

The National Committee on Planned Giving has received a copy of a letter sent from President George W. Bush to the Senate leadership calling for legislation to stimulate charitable giving. Of particular interest to gift planners is the President's call to permit IRA rollovers for charitable purposes from accountholders age 59½ or older for both deferred and outright gifts. While the letter mentions faith-based groups, NCPG has been assured the legislation will not include any of the controversial Charitable Choice provisions.   MORE »