KPMG report: Tax-exempt organization provisions in tax title for budget reconciliation bill
Analysis and observations on the tax title for the for budget reconciliation bill
The House Ways and Means Committee on May 14, 2025, approved (by a vote of 26-19 along party lines) the tax title for the budget reconciliation bill. The tax title was supplemented with a technical explanation (JCX-21-25), revenue estimate (JCX-22-25R), and distribution of the estimated revenue effects (JCX-23-25) from the Joint Committee on Taxation (JCT).
Read a May 2025 report prepared by KPMG LLP that provides initial analysis and observations regarding the provisions in the bill related to tax-exempt organizations