The chairman of the House Ways and Means Committee, Rep. Dave Camp (R-Mich.), on February 26, revealed the details of his tax revision plan, titled the Tax Reform Act of 2014. The measure, yet to be introduced in the House of Representatives, would generally lower tax rates, additionally tax wealthier individuals and banks, repeal the alternative minimum tax, and much more.
Here are some of the provisions that would revise elements of the law of tax-exempt organizations:
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