PG Calc Blog

The latest on planned giving from PG Calc.
Read our posts for comments on the latest topics and issues in planned giving. We hope you find our posts timely and interesting, and we hope you'll share your perspective with us!

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Biden Administration Releases Details on Proposed Taxation of Split-Interest Trusts

Biden Administration Releases Details on Proposed Taxation of Split-Interest Trusts

On May 28, the Biden Administration released a general explanation of its revenue proposals for Fiscal Year 2022. The so-called “Green Book” provides more detail on these proposals than had been available previously. Of especial interest to gift planners, under the heading “Treat transfers of appreciated property by gift or on death as realization events,” pages 62-64 discuss the Administration’s proposed changes to the taxation of capital gain when assets are transferred during life and at death. I reviewed some of these proposed changes regarding outright gifts and bequests of appreciated assets in a previous blog post, but until now there was no detail on how transfers to split-interest gifts would be treated.

Proposed Changes to Capital Gains Tax Could Be a Big Boost to Giving

Proposed Changes to Capital Gains Tax Could Be a Big Boost to Giving

The American Families Plan proposed by the Biden Administration includes a long list of initiatives aimed at expanding government support of children and families. It would cover much of the cost of these initiatives through a series of tax changes that include a major overhaul in the tax treatment of capital gains. It is far from certain that these tax changes will become law, but it is worthwhile to examine how they might affect the behavior of your donors if they did.

Have You Participated in the ACGA’s Survey of Charitable Gift Annuities Yet?

Have You Participated in the ACGA’s Survey of Charitable Gift Annuities Yet?

The American Council on Gift Annuities’ (ACGA) Survey of Charitable Gift Annuities is the best source of data there is on gift annuities and gift annuity programs. Right now, the ACGA is conducting its latest nationwide survey of charitable gift annuity programs and you can help! Please consider participating in this enormously valuable survey.

It’s Tax Season, and Timing Is Everything This Year

It’s Tax Season, and Timing Is Everything This Year

Everyone knows by now that the IRS has extended the filing deadlines for 2020 federal income tax returns for individual taxpayers; the normal deadline of April 15 has been extended to May 17, giving all of us an extra month. But less widely known is that the federal tax filing deadline for trust tax returns has not been extended.

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