2020 Federal Appropriations Act Provisions Impact Nonprofits

December 23, 2019

On December 20, 2019, the President signed a bipartisan appropriations bill (H.R. 1865, the Further Consolidated Appropriations Act, 2020), which includes several pieces of legislation affecting nonprofit organizations. In particular, the new law:

  • Repeals the UBIT “parking tax” retroactively
  • Simplifies the excise tax on private foundations’ net investment income
  • Makes changes to the tax treatment of IRA distributions that may affect charitable giving
  • Renews tax incentives for disaster relief contributions

To learn how these provisions will impact nonprofits, please click here to read the full article.