The Tax Law of Charitable Giving. Bruce R. Hopkins

Pub. L. No. 97-34.

      145 145 Senate Committee on Finance, Statement of Donald C. Lubick, Assistant Secretary for Tax Policy, U.S. Treasury Department, Hearings Before the Subcommittee on Taxation and Debt Management Generally of the Committee on Finance on S. 219, 96th Cong., 2nd Sess. 51 (Jan. 30, 1980)).

      146 146 Id. at 68.

      147 147 Joint Committee on Taxation, General Explanation of the Economic Recovery Act of 1981 (JCS-71-81) 49 (Dec. 29, 1981).

      148 148 Pub. L. No. 98-369.

      149 149 Pub. L. No. 100-647.

      150 150 Pub. L. No. 103-66.

      151 151 Pub. L. No. 104-188.

      152 152 Pub. L. No. 105-277.

      153 153 Pub. L. No. 109-135.

      154 154 Pub. L. No. 115-97.

      155 155 The U.S. Tax Court, in 2020, observed that, “[i]n the past 34 years Congress has amended section 170 more than 30 times” (Oakbrook Land Holdings, LLC v. Commissioner, T.C. Memo. 2020–54 (2020)). Footnote 5 in that opinion contains the public law citations for each of these amendments.

      156 156 Lindsey, supra note 131, at 1059.

      157 157 This report, published in mid-2019, was researched and written by the Indiana University Lilly Family School of Philanthropy. It was funded by the Charles Stewart Mott Foundation and the Fidelity Charitable Trustees' Initiative.

      158 158 Joint Economic Committee (Republicans), “Reforming the Charitable Deduction,” as part of its Social Capital Project (Report no. 2 (Nov. 2019)).

      159 159 Id. at 14.

      160 160 Id.

      161 161 Id.

      162 162 Lindsey, supra note 131, at 1092.

      163 163 Duquette, supra note 131, at 577.

CHAPTER TWO Fundamental Concepts

        § 2.1 Definition of Gift (a) Perspectives (b) Availability of Charitable Deduction (c) Quid Pro Quo Situations (d) Incidental Benefits (e) Requirement of Transfer of Value (f) Requirement of Donor Ownership (g) Donor Recognition (h) Anticipatory Income Assignments (i) Rebate Plans (j) Dividends Paid to Charitable Organizations (k) Requirement of Completion (l) Employee Hardship Programs (m) Mandatory Payments

        § 2.2 Definition of Donor

        § 2.3 Definition of Charitable Organization (a) Overview of Law (b) Charitable Organizations—Criteria

        § 2.4 Public Charities and Private Foundations (a) Public Charitable Organizations (b) Other Nonprivate Foundations (c) Private Foundations

        § 2.5 Unrelated Business Law (a) Overview of Law (b) Definition of Trade orBusiness (c) Regularly Carried On Rule (d) Concept of Unrelated Business (e) Unrelated Business Taxable Income (f) Exempted Activities (g) Exempted Income (h) Bucketing Rule

        § 2.6 Factors Affecting Income Tax Deductibility of Charitable Gifts

        § 2.7 Charitable Organizations Listing Reliance Rules (a) IRS's Searchable Databases (b) Charitable Status Reliance Rules (c) Safe Harbor Rules as to Public Charity Status

        § 2.8 Grantor Trust Law

§ 2.1 DEFINITION OF GIFT

      The