If adopted, the Act would make the IRA charitable rollover permanent, simplify the private foundation excise tax, and extend the deadline for claiming charitable contributions.
On May 20th, Congressman Erik Paulsen (R-MN-3) introduced H.R. 4691, a bill that would simplify the private foundation excise tax to a flat rate of 1 percent. The bill is co-sponsored by Congressman Danny Davis (D-IL-7).