Last week H.R. 1104, the bill entitled Fair Treatment for All Gifts Act, passed in the U.S. House of Representatives. If enacted, H.R. 1104 will exempt contributions to social welfare organizations, labor unions, and trade associations from the federal gift tax.
See Kevin J. Shortill, Gift Tax Certainty at Last? re: H.R. 1104, National Law Review, Apr. 17, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
