There were 2 year end tax changes to note, in addition to the Secure Act, which changed retirement plan distributions.
First, Congress finally repealed the stupid parking tax, effective retroactively. If you filed a 990-T and paid the tax, you can file for a refund.
Second, Congress has changed the excise tax on investment income that private foundations pay to single rate of 1.39%, effective for 2020 and later years. The dual system will stay for 2019 returns.
The Secure Act made major changes to rules on retirement plan distributions. The changes will make retirement plans a more desirable gift to charity. We will cover the details in our next article.
