Write-Offs:

By Elizabeth Schwinn and Grant Williams

• The Council on Foundations has asked the Treasury Department to allow corporate foundations to provide money to employees of their corporations who need help as a result of the earthquake and tsunamis in South Asia. Without government authorization, such payments would be considered improper “self dealing” by corporate foundations.
• President Bush has formed a nine-member committee that will advise the treasury secretary by July 31 on how to overhaul and simplify the federal tax code. Many nonprofit leaders fear that changes could affect or eliminate deductions for contributions and dampen charitable giving. The committee’s chairman is Connie Mack, a Republican former U.S. senator from Florida; its vice chairman is John Breaux, a Democratic former U.S. senator from Louisiana.