Comment from Humboldt Area and Wild Rivers Community Foundation
Humboldt Area and Wild Rivers Community FoundationOpposeAdvocacy
Summary: The Humboldt Area Foundation and Wild Rivers Community Foundation oppose the proposed regulations, arguing that the definitions of Donor Advised Funds (DAFs) are overly broad and would negatively impact rural communities, disaster relief, and various non-DAF giving vehicles. They specifically request expanded exceptions for state/local disaster declarations, clearer rules on advisory committees, and a longer transition period before the rules take effect.
The Humboldt Area Foundation and Wild Rivers Community Foundation writes to provide our comments to the Department of the Treasury (Treasury) and the Internal Revenue Service’s (IRS) notice of proposed rulemaking regarding “Taxes on Taxable Distributions From Donor Advised Funds Under Section 4966” (REG-142338-07). We value the opportunity to provide important feedback about this rule to the Treasury and IRS. Please see attached file.