New tax law produces more questions than answers…
The sweeping tax reform act signed into law late last year may produce a flurry of new tax legislation to correct glitches, oversights, and unanswered questions that are the inevitable result of a hasty and single-party effort to pass major reforms without taking the time to read the bill or hold hearings on its potential impact. The GOP is holding the bag on this one, but the Democrats did exactly the same thing with the Affordable Care Act. If nothing else, this highlights the negative effects of poor governance in any organization.
As these two articles, ‘This is not normal’: Glitches mar new tax law and “Washington’s Fight Over Taxes Is Only Beginning,” show Congress will likely be dealing with the “unintended consequences” of the new tax law for years to come.
That means the Alliance is more important to member societies than ever before, because every bill that opens discussion on the tax code has the potential to impact tax-exempt organizations like us. Threats to the repeal don’t have to be overt attacks. They can arise out of even the most innocuous looking bill that happens to get “ornaments” attached during the legislative process.
That’s why our “spidey sense” will be turned on and tuned in over the coming months. And while Alliance staff and our professional lobbyists will do a great job of identifying and neutralizing threats to the fraternal exemption, our members will play a crucial role in this effort, too.
One of the most effective ways for member society CEOs and C-suite executives to do this is by attending the 2018 Alliance Executive Summit, April 23-25, in Washington, DC. In addition to the networking opportunities with your peers and a terrific educational program, we’ll be going to the Hill to thank legislators for preserving our exempt status in last year’s debate and to recruit more co-sponsors for our House and Senate resolutions.
No one does this as well as you. If you have not already done so, please register for the Executive Summit today and join your colleagues as we take our message to the lawmakers who play such an important role in deciding the fate of the fraternal community.
On a related note, registration for the Spring Symposium is now open. I had the chance to interview one of the sponsors of this event, and we are lucky to have LIDP as an Education Sponsor. Check out the interview here.
June 11, 2018
June 01, 2018