+Contributions to charities have dropped dramatically during the coronavirus pandemic.
“It’s been devastating,” said Kate Rublacava, CEO of the Utah Nonprofits Association.
+The poor score for the temporary above-the-line deduction fueled criticism that the provision not only won’t do much to boost philanthropy, but it also will be difficult to enforce.
+Of note is the provision that took the standard deduction for single filers from $6,500 to the current $12,200; for couples filing jointly the change went form $13,000 to $24,400 now.
+“We are eagerly awaiting the release of the Senate Finance Committee Disaster Tax Relief Task Force report on how tax law can be improved to help people when natural disasters like Dorian hit,” Thompson told Tax Notes September 10.
+“The charitable deduction is only available to taxpayers who itemize and because the standard deduction has been raised, fewer taxpayers will be able to take advantage of itemizing and fewer taxpayers will be able to take charitable deductions,”...
+Providing an incentive for giving to nonprofit endowments at community foundations supports the financial sustainability of charities and helps support organizations providing food and shelter, said Michigan Nonprofit Association CEO Donna Murray...
+According to figures gathered by the Mercer County-based Center for Non-Profits, the stakes may be very high for charitable organizations in the Garden State.
+But Rick Cohen, spokesman for the National Council of Nonprofits, which represents charities, said Republican claims that the bill left the charitable deduction unchanged were misleading, given the obvious knock-on effects of other reforms around...
+The sweeping tax overhaul proposal in the U.S.
+Nonprofits
