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Yahoo
14-07-2025
- Business
- Yahoo
Q2 Announces Fourth Annual Philanthropy Fund Grant Cycle
Fourth annual Q2 Philanthropy Fund to award $150,000 in grants to nonprofits across the globe AUSTIN, Texas, July 14, 2025--(BUSINESS WIRE)--Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for financial services, today announced its fourth annual Q2 Philanthropy Fund grant application cycle, which will award $150,000 in grants to nonprofits across the globe to further its mission of building strong and diverse communities. The initiative is led in partnership with Austin Community Foundation (ACF), a grantmaking public charity, to make it easier and more accessible for nonprofit organizations to apply for grants from Q2. To remain objective and ensure Q2 employees play a role, the selection committee is made up of Q2 employees who review and evaluate the recipients and determine the winners. The Q2 Philanthropy Fund is a part of Q2 Spark, Q2's corporate social responsibility program designed to further Q2's mission to help build strong and diverse communities by strengthening their financial institutions. In 2024 alone, Q2 employees volunteered more than 23,000 hours for over 1,200 philanthropic organizations; combined with employee giving, Q2 contributed more than $1.6 million to philanthropic organizations worldwide. "We are proud to announce the fourth annual Q2 Philanthropy Fund grant cycle," said Q2 Chief People Officer Kim Rutledge. "Grants play a vital role in enabling nonprofits to fulfill their missions, and we're honored to contribute to their impact. Through our continued partnership with ACF, we're committed to a fair and transparent grantmaking process that supports meaningful change." ACF is a grantmaking public charity dedicated to improving the lives of people in a specific region and beyond. ACF helps support Q2's process of managing grant requests to continue to ensure greater access to grant funding through a transparent, rigorous, and equitable process. They also serve as a connector across a robust network of philanthropic organizations, community leaders, and fellow philanthropists, allowing Q2's efforts to benefit more people and communities. Nonprofit organizations are encouraged to apply for a grant through the Q2 Philanthropy Fund. The deadline to apply is August 1, 2025. In order to be considered eligible, an organization must: have tax-exempt status under Sections 501(c)(3) or 170(b)(1)(a)(vi) of the Internal Revenue Code and units of government or have a 501(c)(3) Fiscal Sponsor. Nonprofit organizations that operate in the following geographic areas are welcome to apply: if located in the U.S., the organization must work in the cities where Q2 has an office: Austin, TX; Cary, NC, Charlotte, NC; Des Moines, IA; Lincoln, NE; and Minneapolis, MN. For those nonprofits outside of the U.S., they must work in a location where Q2 has an established legal entity and employee presence in London, UK; Sydney, Australia; Toronto, Canada; Bangalore, India; Monterrey, Mexico City, or Guadalajara, Mexico. To learn more about grant application requirements and apply for a grant, please visit: ABOUT AUSTIN COMMUNITY FUND Austin Community Foundation mobilizes ideas and resources to strengthen Central Texas. ACF is focused on advancing economic mobility and housing affordability, and it uses varied tools – data, convening, and philanthropic dollars – to implement its strategy. Established in 1977, ACF stewards $574 million in total assets under management. In 2024, ACF granted nearly $64 million to the community, mostly through donor advised funds. Learn more at ABOUT Q2 HOLDINGS, INC. Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. Q2 enables its financial institution and fintech customers to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Follow us on LinkedIn and X to stay up to date. View source version on Contacts Carly 2103911706
Business Wire
14-07-2025
- Business
- Business Wire
CF Industries Announces Start-up of Donaldsonville Complex CO
NORTHBROOK, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today announced the start-up of the carbon dioxide (CO 2) dehydration and compression facility at its Donaldsonville Complex in Louisiana. The facility will enable the transportation and permanent geological sequestration of up to 2 million metric tons of CO 2 annually that would otherwise have been emitted into the atmosphere. ExxonMobil, the Company's carbon capture and sequestration (CCS) partner for this project, will be transporting and permanently storing the CO 2. "By starting permanent sequestration now, we reduce our emissions, accelerate the availability of low-carbon ammonia for our customers and begin generating valuable 45Q tax credits," said Tony Will, President and CEO, CF Industries Holdings, Inc. Share On an interim basis, ExxonMobil is storing CO 2 from the Donaldsonville Complex in permanent geologic sites through enhanced oil recovery. Upon receiving its applicable permits, ExxonMobil plans to transition to dedicated permanent storage, starting with its Rose CCS project. Rose is one of many dedicated permanent storage sites ExxonMobil is developing along the Gulf Coast to expand its integrated CCS network. The U.S. Environmental Protection Agency issued a draft Class VI permit for Rose in July, and final permits are expected later this year. 'The start-up of the Donaldsonville carbon dioxide dehydration and compression facility and initiation of sequestration by ExxonMobil is a historic milestone in our Company's decarbonization journey,' said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. 'By starting permanent sequestration now, we reduce our emissions, accelerate the availability of low-carbon ammonia for our customers and begin generating valuable 45Q tax credits.' As a result of its Donaldsonville CCS project, CF Industries expects to produce approximately 1.9 million tons of low-carbon ammonia on an annual basis. CF Industries also expects to qualify for tax credits under Section 45Q of the Internal Revenue Code, which provides a credit per metric ton of CO 2 stored. About CF Industries Holdings, Inc. At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world's largest – to enable low-carbon hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world's transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company's website at and encourages those interested in the Company to check there frequently.
Yahoo
14-07-2025
- Politics
- Yahoo
Maryland churches could openly endorse candidates from the pulpit, under IRS proposal
Churches could make political endorsements without fear of losing their nonprofit status, if a recent IRS settlement agreement is approved by a federal judge in Texas in a lawsuit brought by churches. (Photo by Capt. Joe Bush/U.S. Army) The Rev. L.K. Floyd believes church leaders should have the liberty to speak to their congregations and support certain political candidates, especially when it comes to improving their communities. Floyd, pastor at Heart Changers Baptist Church in Silver Spring, said Friday some people may believe that allowing that only helps evangelical Christians, pointing to white evangelicals like the late Rev. Jerry Falwell Sr. who established the Moral Majority in 1979 as a political organization pushing a 'pro-family' agenda. 'Not allowing the Black church, in particular, to be able to speak from the pulpit their political views, and also to be able to endorse their candidates and focus and support their agendas, I believe would be dangerous and problematic,' Floyd said. 'When there is something that is unjust … we must speak truth to power.' Now, the Internal Revenue Service agrees. In a proposed settlement filed last week, the IRS agreed with the National Religious Broadcasters that churches and other houses of worship should be allowed to formally endorse political candidate without endangering their nonprofit status under the tax code. A U.S. District Court judge in Texas still has to approve the agreement, which would settle a lawsuit by two Texas churches, the Intercessors for America and the National Religious Broadcasters that challenged the 'Johnson Amendment' to the Internal Revenue Code. That 1954 amendment was introduced by then-Texas Sen. Lyndon B. Johnson, and said that nonprofit organizations can maintain tax exempt status if they refrain from political campaigning. SUPPORT: YOU MAKE OUR WORK POSSIBLE There's no specific deadline for the judge to make a decision. A lawyer with the IRS didn't respond to an email for comment. A lawyer for the plaintiffs declined to comment Thursday. The seven-page court filing states the amendment violates the plaintiffs' First and Fifth Amendment rights to freedom of speech and free exercise of religion, as well as their rights to equal protection under the law. It said merely speaking from the pulpit does not violate the Johnson Amendment rule against participating in or intervening in a political campaign. 'Bona fide communications internal to a house of worship, between the house of worship and its congregation, in connection with religious services, do neither of those things, any more than does a family discussion concerning candidates,' the proposed settlement says. 'Thus, communications from a house of worship to its congregation in connection with religious services through its usual channels of communication on matters of faith do not run afoul of the Johnson Amendment as properly interpreted,' it says. The settlement also acknowledged the IRS 'has not enforced the Johnson Amendment against houses of worship for speech concerning electoral politics in the context of worship services.' University of Notre Dame law Professor Lloyd Hitoshi Mayer said in an interview Thursday that the IRS hasn't been enforcing the so-called Johnson amendment for at least the past 20 years. 'Many religious leaders have become bolder and bolder in inviting candidates to come speak at their church, calling them up to get praised, or saying other things that clearly indicate support of a candidate and not have the IRS open up an audit or threaten their types of status as a result,' said Hitoshi Mayer, whose areas of research include election and tax law and political activity by churches and other religious organizations. 'It gives churches that perhaps were hesitant to engage in this activity because they were worried about the IRS a green light to do so,' he said. Even if the judge decides not to approve the settlement, and asks both parties to go back and try again, Hitoshi Mayer said the IRS acknowledges 'we are not going to enforce the Johnson amendment' against churches and other houses of worship. At least it wouldn't happen during the Trump administration, he said, because President Donald Trump (R) said during his first term in office he wanted to repeal the amendment. Under shadow of deportation, Latinos find light at Hyattsville church On Wednesday during a lunch with African leaders, Trump said, 'I love the fact that churches can endorse a political candidate. If somebody of faith wants to endorse, I think it's something that I'd like to hear. Those people were not allowed to speak up. Now they're allowed to speak up. I think it's terrific.' Jeff Trimbath, president of the nonprofit Maryland Family Institute, called the IRS court filing 'a watershed moment.' 'For too long, many pastors have operated under the chilling belief that the law prevented them from equipping their congregations on how to think biblically about civic engagement, candidates, and public policy,' Trimbath said in a statement Tuesday. 'The IRS made it clear: there is no such prohibition. Let's pray this leads to pulpits that are once again unafraid to preach the whole counsel of God — including His truth for the public square.' Not all religious groups are on board. Ashley Hildebrand, senior adviser with Catholics for Choice based in Washington, D.C., hopes the judge rejects the settlement, especially given what it could mean for the separation of church and state. 'If the church can endorse a political candidate, it is just one more way that priests could preach from the pulpit and further alienate people in the pews,' Hildebrand said Thursday. 'If we allow the pulpit to be weaponized or put into service of a political agenda more so than it already is, we are essentially allowing a very well-organized religious force to mobilize its base in pursuit of a partisan agenda,' she said. 'That is inherently dangerous.' No matter what the judge decides, the United States Conference of Catholic Bishops said it plans to maintain its stance of not endorsing or opposing political candidates. 'The IRS was addressing a specific case, and it doesn't change how the Catholic Church engages in public debate,' the conference's spokesperson Chieko Noguchi said in a statement Tuesday. 'The Church seeks to help Catholics form their conscience in the Gospel so they might discern which candidates and policies would advance the common good.'
USA Today
12-07-2025
- Business
- USA Today
Explaining the 10 financial terms Americans search for most
Money terms and concepts continue to baffle people, many of whom are seeking answers through online searches. an investment research platform, recently tracked the volume of queries for various financial terms made through ChatGPT. Based on this research, the company hypothesized about what the issues are that give people trouble with these terms and concepts, though many such searches also could be conducted to clarify details or derive more information. Here are the top 10 most-searched financial terms and concepts, starting with those attracting the most internet attention and heading down the list: Search term: 401(k) This was the financial term for which Americans searched the most. If people are confused, much of it appears to focus on the tax benefits, contribution limits and withdrawal rules associated with these accounts, according to What to know: These are workplace retirement accounts named after a section of the Internal Revenue Code. The accounts are usually tax-sheltered and often include employer-matching funds as incentives. Most Americans don't invest enough to run afoul of the annual dollar contribution limits. Penalties can apply on withdrawals, which typically are taxable, too. Search term: Inflation Most people seem to know about inflation but don't necessarily distinguish it from 'rising prices in general,' said BestBrokers. What to know: Inflation is the percentage increase showing how prices for different goods change from one period to the next, often on a 12-month basis. It doesn't describe high price levels generally. Here's an example: With the typical new vehicle selling for about $50,000, many people would agree that autos are at high price levels. However, the inflation rate on new vehicles was just 0.4% over the 12 months through May. Search term: Equity Many people inquiring about this term appear to think it has something to do with "salary or profit sharing," said BestBrokers. What to know: Equity can be a vague term so it's not surprising that people are confused. Equity usually translates to 'ownership,' as with a person who has $50,000 equity in a $250,000 condo for which the rest represents an unpaid mortgage balance. It doesn't help that many people refer to stocks as 'equities." Search term: GDP This abbreviation stands for Gross Domestic Product but is 'misused as a personal prosperity indicator,' said BestBrokers. What to know: GDP represents the bottom-line number for the broad economy and is never properly used to describe an individual's wealth or income. Changes in GDP are the main way analysts determine whether the economy is expanding or contracting, whereby two consecutive down quarters for GDP often signal a recession. Search term: Credit score Most people seem to recognize what credit scores are but don't know how they're calculated or how to improve their own scores. What to know: There are different types of credit scores, such as FICO scores (from Fair Isaac Corp.) and Vantage scores. Basically, they represent quick assessments of how reliable you are in paying debts, based on your payment history. Some confusion lies in how scores are calculated, as these factors aren't always intuitive. For example, people who don't borrow much or don't use credit cards might have lower scores than would be the case if they borrowed and paid their balances promptly. Search term: ETF This term, short for "exchange-traded fund," is another troubling one. Many people confuse ETFs with mutual funds and aren't sure about their "unclear trading and tax rules,' BestBrokers said. What to know. ETFs are close cousins to mutual funds in that both are broad portfolios of stocks or bonds packaged and overseen by financial companies such as Vanguard, BlackRock or Fidelity that can be purchased for modest sums, often $1,000 or so. One key difference: You can buy or sell ETFs at different prices throughout the day, while mutual funds trade only at one price, set at the end of the daily trading session. Search term: Capital-gains tax The confusion here seems to lie in how capital-gains tax rates differ from ordinary income tax rates. What to know: The tax rates on long-term capital gains are typically lower than those on ordinary income, with 'long term' describing assets held more than a year. Most Americans pay a long-term capital-gains rate of 15% on their federal tax return, though the rate can be higher or lower. Adding to the confusion: Your ordinary income is used to determine what capital-gains rate you pay. Search term: Gross income There appears to be confusion between gross and net income, according to BestBrokers. What to know: From a tax standpoint, gross income is what you earn before subtracting deductions or credits. After those subtractions, you wind up with net income. A common type of gross income, as defined by the Internal Revenue Service, is MAGI or 'modified adjusted gross income,' which is used to determine eligibility for various tax benefits such as retirement-account eligibility. Search term: Compound interest Many people apparently don't realize how these differ from simple interest. What to know: Compound interest is the concept of earning interest on interest. For example, a $1,000 initial investment earning a 5% simple rate over five years would generate $250 over that time ($50 a year for five years). The same $1,000 earning 5% compounded would generate roughly $276. Compounding exerts a greater impact at higher interest rates and over longer periods. Search term: Forex Many people apparently relate this term with the stock market or cryptocurrency trading, said BestBrokers. What to know: Forex is short for 'foreign exchange' and has nothing to do with the stock market or crypto. Rather, it refers to the market for trading currencies — dollars, euros, pesos, pounds, yen and so forth. The market for currencies is the largest around, reflecting the substantial amount of global trade. Reach the writer at
Forbes
09-07-2025
- Business
- Forbes
Lummis Crypto Tax Reform Bill Could Transform U.S. Digital Asset Rules
WASHINGTON - SEPTEMBER 21: Sen. Cynthia Lummis, R-Wyo. (Bill Clark/CQ-Roll Call, Inc via Getty ... More Images) The U.S. digital asset industry has been operating under a tax code that wasn't built for the blockchain era. A lack of clear definitions, inconsistent treatment, and outdated frameworks has made compliance not just burdensome—but risky. And not just for retail investors, but for institutions, developers, and even regulators trying to keep up. Case in point: the way digital assets are taxed compared to securities and commodities. Stepping into this regulatory gap is Senator Cynthia Lummis (R-WY), a longtime Bitcoin advocate and one of the most consistent crypto-focused voices on Capitol Hill. On July 3, 2025, Lummis introduced a standalone digital asset tax reform bill that, if enacted, could mark a pivotal moment in harmonizing how digital and traditional financial assets are treated under the Internal Revenue Code (IRC). Her proposal follows the removal of similar provisions from the broader 'One Big Beautiful Bill Act' during the House amendment process, a result that prompted Lummis to reintroduce them independently to preserve momentum behind digital asset tax clarity. 'We cannot allow our archaic tax policies to stifle American innovation,' said Lummis in a press release. 'My legislation ensures Americans can participate in the digital economy without inadvertent tax violations.' The bill outlines several key reforms aimed at modernizing tax treatment for digital assets. Here is a closer look at its major provisions and what they could mean for legal, financial, and compliance professionals navigating this evolving policy landscape. A Statutory Definition for Digital Assets Section 1 of the bill amends Section 7701 of the IRC to introduce a formal definition of 'digital asset.' Under the proposal, a digital asset is defined as a 'digital representation of value which is recorded on a cryptographically secured distributed ledger,' with carve-outs for representations of traditional financial assets and real-world property. This definitional clarification addresses a long-standing challenge across regulatory bodies: multiple federal agencies currently operate with differing classifications of digital assets. Establishing a consistent statutory definition offers a shared foundational reference point across regulatory domains and could reduce ambiguity in compliance frameworks moving forward as well as industry-wide clarity. Tax Treatment of Digital Asset Lending The legislation expands Section 1058 to cover 'specified assets,' a new term that includes both traditional securities and actively traded digital assets. As a result, lending arrangements involving qualifying digital assets would no longer trigger a taxable event at the moment of transfer, provided that certain conditions are met. This change seeks to address a long-standing disincentive for capital formation and liquidity in tokenized markets. Under current rules, lending crypto (even temporarily) can trigger immediate—often onerous—tax consequences, even when no economic benefit has been realized. Accordingly, the proposed update aims to remove barriers that, as explained by Lummis, have 'discouraged legitimate lending markets and created artificial barriers to capital efficiency.' Wash Sale Rule Extension for Digital Assets A separate provision revises Section 1091 to apply the 30-day wash sale rule to digital assets. While this change would close a known tax-loss harvesting strategy used by some crypto investors, it brings digital assets into alignment with long-standing treatment of securities. Notably, the bill includes exceptions for dealers and for transactions involving payment stablecoins, which are defined elsewhere in the bill. This signals a targeted application of tax parity principles while accounting for practical differences in asset function. Lummis's bill would ensure tax neutrality between asset classes while maintaining appropriate exceptions for legitimate business activities. Mark-to-Market Accounting for Traders and Dealers The bill also creates a new Section 475(g), allowing traders and dealers in specified digital assets to elect mark-to-market treatment. This election would allow taxpayers to recognize gains and losses based on fair market value at year-end, similar to rules already available to securities and commodities traders. For high-frequency trading firms, hedge funds, and crypto-native trading platforms, the bill's mark-to-market provision could significantly reshape how gains and losses are recognized for tax purposes. If adopted, digital asset dealers and traders would be allowed to treat holdings as if they were sold at fair market value at year-end, which would mirror the treatment already available to securities and commodities traders. This shift would bring long-overdue consistency to how digital asset income is reported and allow firms to claim losses more accurately in volatile markets. Adjustments for Mining, Staking, and Charitable Contributions The legislation proposes additional reforms in areas that have generated ongoing uncertainty: Each of these provisions reflects attempts to align digital asset taxation with functional and operational realities in the Web3 ecosystem. Administrative Oversight and Anti-Abuse Provisions The bill includes several regulatory safeguards, authorizing the Treasury Secretary to issue guidance on wallet segregation, mixed-transaction treatment, basis adjustments, and broker reporting. It also anticipates the need for anti-abuse rules to prevent manipulation of the new exclusions or accounting elections. These provisions suggest that while the bill aims to simplify and clarify, it does not forgo regulatory rigor. Instead, it reflects an attempt to balance innovation and integrity within a modernized tax framework. Temporary Reforms with a Built-In Sunset Each major provision in the bill, including those related to lending, staking, wash sales, and de minimis exemptions, features a sunset date ten year of December 31, 2035. This temporal limitation suggests that lawmakers view the proposed reforms as transitional measures, subject to revision as markets, technology and regulatory experience evolve and results inform future lawmaking. For businesses and tax professionals, however, the sunset clause could introduce long-term planning uncertainty and regulatory risk. This underscores the importance of continued stakeholder engagement during the rulemaking and review process. While the Lummis proposal is still in its early stages and its passage is far from certain, it represents a notable effort to modernize digital asset taxation by aligning it with long-standing rules in the traditional financial sector. Taken together, the provisions signal a broader shift in how lawmakers are approaching digital asset regulation to prioritize clarity, neutrality, and administrative feasibility. For legal, financial, and compliance professionals, this bill provides an important window into the direction of U.S. tax policy. As digital assets become more integrated into capital markets and everyday commerce, the ability to interpret and navigate these evolving rules will remain a key strategic competency.
