New Tax Deductible org. A F B Foundation

Posted on February, 14 2017, 14:57


Yesterday we learned we have a new family member to help repeal the Death Tax:  The American Business Defense Foundation.  It's just one-word away from the name of our parent organization, but it means a lot.

The new American Business Defense Foundation has received approval from the IRS to be "exempt from federal income tax under Internal Revenue Code (IRC) Section 501(c)(3).  Donors can deduct contributions they make to you..." 

The parent group, the American Business Defense Council is an advocacy organization.  It promotes legislation to repeal the federal Death Tax and to repeal it in various states.  Contributions to ABDC's efforts are not deductible.

But there are many aspects of the Death Repeal fight which are non-political but educational.  These include crucially important studies of the adverse effects of the Death Tax, economic analyses that show how repeal would increase jobs and national income.  The new Foundation can also sponsor events with tax deductible donations or grants.  For example, the ABDF can host educational seminars for key Congressional staffers who work on tax matters.   It can publish and distribute educational brochures and it can sponsor educational ads on the Internet, radio and other media. 

Because of this new organizations, individuals, family foundations, educational foundations, partnerships and corporations can make tax deductible contributions to the American Business Defense Foundation.

We have been anticipating that the Foundation would receive IRS approval in another month or so and this early determination comes at an opportune time.  We are gearing up to make sure that Death Tax repeal is included in any tax reform bill considered by Congress and though the President has announced his support, there is much work to do.  That includes educating a lot of people in the media, in the public, and in positions of power on Capitol Hill and in the Administration.

We welcome your assistance in getting the ABDF up and running.  We have a wide mix of advocacy efforts and educational projects that deserve your help.  And, if you know of an organization that can offer us help, please let me know or pass this article on to them.  For copy of the IRS letter of determination, please let me know.