The tax law of charitable giving
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書誌事項
The tax law of charitable giving
(The Wiley nonprofit authority series)
Wiley, c2021
6th ed
- : cloth
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注記
Includes index
内容説明・目次
内容説明
the tax law of charitable giving
Discover a fully updated and comprehensive reference on US charitable tax law from a leading authority
As United States charitable tax law becomes ever more complex and byzantine, the need for a one-stop resource on foundational and advanced topics in this practice area has become acute. The comprehensively revised Sixth Edition of The Tax Law of Charitable Giving fills this niche. The book offers readers a fulsome, authoritative, and well-organized description of modern US tax laws on charitable giving
Ranging over the basics of US charitable giving law to the intricate details of contributions of various types of property and international giving, this accomplished nonprofit lawyer, professor, and author delves deeply into a wide variety of subjects concerning deductible (and nondeductible) charitable giving. In addition to fundamental topics such as the definition of gift and percentage limitations on charitable deductions, readers will learn about planned giving, donor-advised funds, the substantiation and appraisal requirements, reporting and disclosure laws, valuation pricinples, tax penalties, and more.
Ideal for lawyers, accountants, and other financial professionals who advise clients on charitable giving and tax matters, The Tax Law of Charitable Giving provides an authoritative reference on all aspects of philanthropy and federal tax law.
目次
Preface xv
Book Citations xix
Part One Introduction to the Tax Law of Charitable Giving
1 Charitable Giving Law: Basic Concepts 3
1.1 Introduction to Charitable Contribution Deduction 3
1.2 Defining Tax-Exempt Organizations 5
1.3 Charitable Organizations Law Philosophy 8
1.4 Statistical Profile of Charitable Sector 23
1.5 History of Charitable Contribution Deduction 29
1.6 Charitable Contribution Deduction Reform Proposals 32
2 Fundamental Concepts 35
2.1 Definition of Gift 36
2.2 Definition of Donor 83
2.3 Definition of Charitable Organization 84
2.4 Public Charities and Private Foundations 96
2.5 Unrelated Business Law 113
2.6 Factors Affecting Income Tax Deductibility of Charitable Gifts 121
2.7 Charitable Organizations Listing Reliance Rules 122
2.8 Grantor Trust Law 126
3 Contributions of Money and Property 129
3.1 Contributions of Money 129
3.2 Contributions of Property in General 130
3.3 Contributions of Long-Term Capital Gain Property in General 132
3.4 Contributions of Ordinary Income Property 132
3.5 Certain Contributions of Capital Gain Property 136
3.6 Contributions of Property for Unrelated Use 139
3.7 Step Transaction Doctrine 142
3.8 Charitable Pledges 148
Part Two Charitable Giving in General
4 Timing of Charitable Deductions 153
4.1 Overview of Law 154
4.2 Contributions of Money in General 155
4.3 Contributions of Money by Check 155
4.4 Contributions of Money by Credit Card 158
4.5 Contributions of Money by Telephone 159
4.6 Contributions of Securities 159
4.7 Contributions of Copyright Interest 162
4.8 Contributions by Means of Notes 163
4.9 Contributions by Letters of Credit 163
4.10 Contributions of Property Subject to Option 164
4.11 Contributions of Stock Options 165
4.12 Contributions of Credit Card Rebates 167
4.13 Contributions of Tangible Personal Property 167
4.14 Contributions of Real Property 168
4.15 Contributions of Easements 168
4.16 Contributions by C Corporations 169
4.17 Contributions by S Corporations 170
4.18 Contributions by Partnerships 171
4.19 Contributions by Means of the Internet 173
5 Limitations on Annual Deductibility 175
5.1 Overview of Law 176
5.2 Individuals' Contribution Base 179
5.3 Corporations' Taxable Income 179
5.4 Percentage Limitations: An Overview 180
5.5 Sixty Percent Limitation 182
5.6 Fifty Percent Limitation 183
5.7 Thirty Percent Limitation for Gifts of Certain Property 186
5.8 Electable 50 Percent Limitation 189
5.9 General 30 Percent Limitation 193
5.10 Interplay of 50 Percent/Special 30 Percent Limitations 194
5.11 Interplay of 50 Percent/General 30 Percent Limitations 194
5.12 Interplay of Special 30 Percent/General 30 Percent Limitations 195
5.13 Twenty Percent Limitation 195
5.14 Qualified Conservation Contribution Law 196
5.15 Conservation Gifts by Farmers and Ranchers 196
5.16 Gifts for the Use of Charity 198
5.17 Blending Percentage Limitations 199
5.18 Rules for Spouses 200
5.19 Information Requirements 202
5.20 Percentage Limitation for Corporations 202
6 Estate and Gift Law 205
6.1 Overview of Law 205
6.2 Federal Gift Tax 207
6.3 Federal Estate Tax 218
6.4 Unification of Taxes 234
6.5 Remainder Interests 234
6.6 Ascertainability of Value of Charitable Interest 244
7 Unique Charitable Contribution Laws 249
7.1 Works of Art 250
7.2 Gems 254
7.3 Inventory 256
7.4 Scientific Research Property 264
7.5 License to Use Patent 265
7.6 Easements and Other Conservation Property 267
7.7 S Corporation Stock 292
7.8 Section 306 Stock 300
7.9 Retirement Plan Accounts 302
7.10 Commodity Futures Contracts 309
7.11 Donors' Creations 311
7.12 Charity Auctions 312
7.13 Services 319
7.14 Unreimbursed Expenses 321
7.15 Limitation on Deduction for Expenses Due to Pleasure 327
7.16 Automobile Expenses 331
7.17 Use of Property 331
7.18 Bargain Sales 332
7.19 Property Subject to Debt 338
7.20 Future Interests in Tangible Personal Property 341
7.21 Contributions by Trusts 342
7.22 Taxidermy 351
7.23 Clothing and Household Items 352
7.24 Vehicles 352
7.25 Intellectual Property 359
7.26 Foreign Tax Credit 363
7.27 Subsistence Whaling Expenses 364
7.28 Virtual Currency Transactions 365
8 Additional Aspects of Deductible Giving 367
8.1 Contributions by Means of an Agent 368
8.2 Contributions for the Use of Charity 369
8.3 Conditional Contributions 371
8.4 Earmarking of Contributions for Individuals 377
8.5 Interrelationship with Business Expense Deduction 380
8.6 Denial of Deduction for Lobbying Activities 382
8.7 Deductible Contributions to Noncharitable Organizations 383
8.8 Reallocation of Deductions 388
8.9 Funding of Terrorism 388
8.10 Statute of Limitations 389
8.11 Concept of Trust Income 389
8.12 Unrelated Business Income Charitable Deduction 393
8.13 Charitable Family Limited Partnerships 394
8.14 Abusive Tax Transactions 396
8.15 Public Policy Considerations 408
Part Three Planned Giving
9 Planned Giving and Valuation 417
9.1 Planned Giving Fundamentals 417
9.2 Partial Interests Law 420
9.3 Overview of Valuation Law 423
9.4 Standard Actuarial Factors 424
9.5 General Actuarial Valuations 426
9.6 Nonstandard Actuarial Factors 429
9.7 Securities Laws 432
10 Charitable Remainder Trusts 435
10.1 Definitions 437
10.2 Charitable Remainder Annuity Trust Law 448
10.3 Charitable Remainder Unitrust Law 462
10.4 Issues 479
10.5 Tax Treatment of Distributions 492
10.6 Division of Charitable Remainder Trusts 499
10.7 Basis in Disposition of Term Interest 503
10.8 Taxation of Charitable Remainder Trusts 505
10.9 Mandatory Provisions 507
10.10 Private Foundation Law 508
10.11 University Endowment Investment Sharing 510
10.12 Charitable Remainder Trusts as Partners or Shareholders in REITs 512
10.13 Wealth Replacement Trusts 513
10.14 Calculation of Charitable Contribution Deduction 513
10.15 Merger of Charitable Remainder Trusts 519
10.16 Early Terminations of Charitable Remainder Trusts 519
10.17 Regular Termination of Charitable Remainder Trusts 521
11 Pooled Income Funds 525
11.1 Definitions 526
11.2 Qualifying Pooled Income Funds 527
11.3 Allocation of Income 533
11.4 Recognition of Gain or Loss on Transfers 534
11.5 Mandatory Provisions 535
11.6 Private Foundation Law 536
11.7 Pass-Through of Depreciation 537
11.8 Tax Status of Funds and Beneficiaries 538
11.9 Multiorganization Pooled Income Funds 540
11.10 Comparison with Charitable Remainder Trusts 543
11.11 Charitable Contribution Deduction 544
12 Charitable Gift Annuities 547
12.1 Contract as Vehicle Form 547
12.2 Tax Treatment to Donor 548
12.3 Deferred Payment Gift Annuities 549
12.4 Estate and Gift Tax Consequences 550
12.5 Unrelated Business Income Implications 550
12.6 Unrelated Debt-Financed Income Implications 551
12.7 Contrast with Other Planned Gift Methods 552
12.8 Antitrust Laws 553
12.9 Securities Laws 554
12.10 Charitable Contribution Deduction 554
13 Other Types of Deductible Remainder Interests 557
13.1 Overview of Law 557
13.2 Qualifying Partial Interests 558
13.3 Remainder Interests in Personal Residences or Farms 558
13.4 Undivided Portions of Entire Interests in Property 562
14 Charitable Lead Trusts 571
14.1 Overview of Law 571
14.2 Income Interests 572
14.3 Tax Treatment of Charitable Lead Trusts 574
14.4 Testamentary Use of Charitable Lead Trusts 576
14.5 Percentage Limitation Law 578
14.6 Private Foundation Law 578
14.7 Anti-Abuse Rule Concerning Income Interests 580
14.8 Charitable Income Trusts 582
14.9 Comparison with Charitable Remainder Trusts 583
14.10 Valuing Charitable Contribution Deduction 583
14.11 Charitable Contribution Deduction 584
15 Contributions of and Using Life Insurance 587
15.1 Introduction 587
15.2 Life Insurance Concepts 588
15.3 Charitable Giving and Insurance 591
15.4 Insurable Interest 596
15.5 Unrelated Debt-Financed Income Law 599
15.6 Charitable Split-Dollar Insurance Plans 600
15.7 Insurance Contract Reporting Requirements 607
Part Four International Charitable Giving
16 International Giving by Individuals During Lifetime 611
16.1 Introduction 611
16.2 Overview of Law 612
16.3 Earmarking and Conduit Restrictions 615
16.4 Control over Foreign Donees 619
16.5 Summary 622
16.6 Income Tax Treaties 623
17 International Giving by Individuals by Means of Estates 625
17.1 Overview of Law 625
17.2 Estate Tax Law 626
17.3 Gift Tax Law 632
17.4 Charitable Giving by Noncitizen Nonresidents 632
18 International Giving by Corporations 635
18.1 Contributions to U.S. Charities for Foreign Use 635
18.2 Contributions of Money from Foreign Affiliate of U.S. Parent to Foreign Charities 636
18.3 Contributions of Goods or Services to Benefit Foreign Charities 637
18.4 Grants of Funds from U.S.-Related Foundation to Foreign Charities 638
Part Five Administration of Charitable Giving Programs
19 Substantiation and Appraisal Law 651
19.1 Introduction 652
19.2 Substantiation Law for Charitable Monetary Contributions 653
19.3 Substantiation Law for Charitable Contributions of $250 or More 654
19.4 Substantiation Law for Noncash Charitable Contributions 669
19.5 Substantiation Law for Conservation Contributions 675
19.6 Substantiation Law for Contributions of Motor Vehicles, Boats, and Airplanes 675
19.7 Substantiation Law for Contributions to Donor-Advised Funds 676
19.8 Appraisal Law 676
19.9 Appraisals of Clothing and Household Items 687
19.10 Recordkeeping Law 688
20 Disclosure Law 693
20.1 Disclosure by Charitable Organizations in General 693
20.2 Quid Pro Quo Contribution Law 698
20.3 Disclosure by Noncharitable Organizations 702
21 Special Events, Corporate Sponsorships, and Donor-Advised Funds 707
21.1 IRS Audit Guidelines 708
21.2 Special Events 712
21.3 Corporate Sponsorship Law 714
21.4 Donor-Advised Funds 717
22 Reporting Law 739
22.1 Contribution Reporting by Individuals 739
22.2 Contribution Reporting by C Corporations 740
22.3 Contribution Reporting by S Corporations 740
22.4 Contribution Reporting by Partnerships 740
22.5 Contribution Reporting by Donees in General 741
22.6 Contribution Reporting in Unrelated Business Context 746
22.7 Noncash Contributions Reporting Law in General 749
22.8 Contributions of Vehicles Reporting Law 765
22.9 Contributions of Intellectual Property Reporting Law 767
22.10 Dispositions of Contributed Property Reporting Law 768
22.11 Personal Benefit Contract Reporting Law 771
22.12 Split-Interest Trust Reporting Law 771
23 Valuation Principles and Various Penalties 773
23.1 Valuation of Property-General Principles 773
23.2 Valuation of Works of Art 779
23.3 Valuation of Securities 781
23.4 Valuation of Other Types of Property 784
23.5 Other Court Valuation Cases 793
23.6 Federal Tax Penalties 803
23.7 Burden of Proof Law 815
23.8 Burden of Production and Procedural Law 817
24 State Fundraising Law 819
24.1 State Regulation in General 819
24.2 Historical Perspective 820
24.3 States' Police Power 822
24.4 Basic Definitions 823
24.5 Registration Law 824
24.6 Reporting Law 824
24.7 Exemptions from Regulation 825
24.8 Fundraising Cost Limitations 826
24.9 Prohibited Acts 827
24.10 Contract Law 828
24.11 Disclosure Law 829
About the Author 831
About the Online Resources 833
Index 835
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