+Will NJ create a tax deduction to reward charitable giving?
A bill to enact the deduction was already approved by the Senate in March but it has not moved in the Assembly, where it is still pending before that chamber’s Budget Committee.
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+Nonprofits nervous as giving declines with new tax law
Changes to federal tax law that took effect in 2018 removed at least part of that incentive, and local nonprofits are starting to feel the strain.
+A very unhappy 100th birthday for the charitable deduction
This month marks the 100th birthday of the federal tax deduction for charitable giving. That anniversary should be a day of celebration for all that this incentive to give has done for the American people.
+National Council of Nonprofits Statement on the Universal Charitable Giving Act (H.R. 3988)
Washington, DC - In response to the introduction by Representative Mark Walker (R-NC) of the Universal Charitable Giving Act (H.R.
+Charities Move to Offset Effects of GOP Tax Bill
Congress included a universal deduction in a 1981 tax bill, dubbed the “Christmas-tree bill” because of the many tax-cutting ornaments added by lawmakers, according to a 2016 report by the Tax Policy Center.
+How tax reform could hit charitable giving
The double whammy of doubling the standard deduction while lowering the top rate to 35% from 39.6% could reduce giving by between $5 billion and $13 billion a year, or up to 4.6%, according to a recent study by the Lilly Family School of...
+Charities Coax Lawmakers to Rethink Tax Plan
Elsewhere in the tax debate, many charities are choosing to stay on the sidelines when it comes to the estate tax, because lawmakers are unlikely to be swayed on that issue.
+Trump and House tax plans have one thing in common: They likely hit nonprofits hard
"Both would be a sizable hit for not only the nonprofits but also the people that they're serving," said Tim Delaney, CEO of The National Council of Nonprofits.
