Biden would limit loophole of foundation grants to DAFs

President Biden’s budget proposes to limit the loophole in the current tax law that allows a private non-operating foundation to get credit towards its minimum distribution requirement by making a grant to a donor advised fund. The grant would qualify only if the DAF regranted the funds by the end of the following tax year.

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Biden would limit loophole of foundation grants to DAFs

Biden would limit loophole of foundation grants to DAFs