Professor Dennis J. Ventry, Jr. Quoted in Bloomberg BNA about Charitable Fund Plans

Professor Dennis J. Ventry, Jr., commented for Bloomberg BNA on whether states could use charitable contribution-credit programs funds as a workaround to the new federal tax law's significant limitation on the tax deduction for state and local taxes paid. Ventry stated unequivocally that such programs are “on totally firm ground.”

“It is absolutely legal under current court precedent, including the U.S. Supreme Court,” Ventry told Bloomberg BNA. ''It’s also been endorsed by the IRS three different times in three different chief counsel advisory opinions.”

The article went on to say, “Ventry, who chairs the IRS Advisory Council, said there are about 100 existing charitable contribution programs in the states that result in a tax credit or tax deduction that have already passed muster with the IRS.”

Professor Ventry is an expert in tax policy and legal ethics. His research interests include tax expenditure analysis, family taxation, professional responsibility and standards of care, tax filing and administration, tax compliance, public finance, and tax and legal history. In addition, he is Chairman of the IRS Advisory Council, and co-author on the casebook, Federal Income Taxation with Martin McMahon, Jr., Daniel L. Simmons, and Bradley T. Borden.