Resources for Advisors

Professional advisors are a crucial link between people who want to give or plan their legacy and The Community Foundation. Our GiftLaw website features the latest news on charitable planning, a complete tax reference, gift calculators and case studies. For updates by email, subscribe here.

Washington News
IRS on Schedule For Tax-Filing Season

IRS Commissioner Charles Rettig testified before the House Ways and Means Oversight Subcommittee on November 20, 2020. He reported that the IRS is on schedule for the upcoming tax season. Rettig was asked about the backlog of millions of pieces of mail stored in IRS warehouses during the COVID-19 shutdown. He explained that the IRS still has about three million pieces of unopened mail, with an estimated one million unprocessed income tax returns from last year. Rettig also discussed the efforts of the IRS to continue operations during the COVID-19 pandemic. He noted, "More than two years into my term as Commissioner, I remain extremely proud to be working for the IRS and excited about the future of our agency. My experiences as Commissioner have strengthened my belief that a fully functioning IRS is critical to the success of our nation. In Fiscal Year 2019, the IRS collected...

Read More
GiftLaw Pro
Charitable Tax Reference

GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...

Read More
Deduction Calculator

The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...

Read More
Case of the Week
The Gas Guzzler's Deduction, Part 1

Brandon loves his truck, which he affectionately named "the Beast." It was a gift for Brandon's 18th birthday. It is painted bright red and is two tons of metal, muscle and noise. Indeed, many

Read More
Private Letter Ruling
Trust Termination Granted Gift Tax Deduction

Taxpayer and Spouse created a charitable remainder annuity trust under Sec. 664(d)(1). Taxpayer and Spouse are the annuity beneficiaries of the trust and Taxpayer is the trustee. Foundation, a private

Read More
Article of the Month
Charitable Gifts of Real Estate – Part II

For many donors, the most significant part of their net worth is real estate. Thus, donors regularly make real estate charitable gifts. As a general rule, many charities prefer gifts of cash, stocks

Read More
scriptsknown