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Extension of comment period for proposed regulations on excise taxes on taxable distributions from donor advised funds

Extension of comment period for proposed regulations on excise taxes

January 8, 2024

The U.S. Treasury Department and IRS on November 14, 2023, published proposed regulations (REG-142338-07) under section 4966 regarding excise taxes on taxable distributions made by sponsoring organizations from donor advised funds (DAFs), and on the agreement of certain fund managers to the making of such distributions.

The proposed regulations [PDF 387 KB] (70 pages) provided that comments on the proposed regulations, and requests for a public hearing, must be received by January 16, 2024.

The Treasury Department and IRS today released a notice [PDF 184 KB] extending the period to submit comments on the proposed regulations and requests for a public hearing from January 16, 2024, to February 15, 2024.

For more information, contact your usual KPMG tax professional or one of the following Washington National Tax professionals:

Ruth Madrigal | ruthmadrigal@kpmg.com

Preston Quesenberry | pquesenberry@kpmg.com

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