Tax Reform

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Nonprofits bracing for reductions in charitable giving under new tax laws

Rick Cohen, chief communications officer for National Council of Nonprofits, said many nonprofits still are hoping to avoid the worst of those effects — at least for this year.

Tags: Charitable Giving, Tax Reform
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Nonprofits Fear a Drop in Year-End Donations Under New Tax Law

“The change is particularly concerning because there are so many nonprofits that are already overstretched and even a small decrease in donations could have devastating effects for a small nonprofit and the people they serve,” said Rick Cohen,...

Tags: Charitable Giving, Tax Reform
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Charities Concerned Tax Law Could Lead To Drop In Donations

“We have estimates of anywhere from $13 to $21 billion dollars in a loss for charitable donations across the country,” said Kate Rubalcava, CEO of the Utah Nonprofits Association. “In Utah, specifically, we’re not seeing that type of projected...

Tags: Utah, Giving, Tax Reform
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As tax law closes charitable deduction, NJ looks to corporate citizens for help

“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,”...

Tags: New Jersey, Tax Reform, Charitable Giving Incentives
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IRS Offers Safe Harbor For Nonprofit Parking Benefits

Meanwhile, the National Council of Nonprofits in late November urged members of Congress to repeal ...

Tags: Transportation Benefits, UBIT, Tax Reform
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Kevin Brady Drops Extenders, Adds Health Care Tax Rollbacks

“This package looks familiar because it delivers bipartisan relief from some of the Affordable Care Act’s most egregious taxes,” Brady told reporters. He called the new package “95 percent bipartisan."

Tags: Johnson Amendment, Nonprofit Nonpartisanship, Tax Reform
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Feds Try To Explain, Mitigate Parking UBIT

It’s not all good news.

Tags: Transportation Benefits, UBIT, Tax Reform
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Treasury tries to minimize impact of new tax on churches, other nonprofits

But the move didn't satisfy a major nonprofit association, which said repealing the tax is "the only reasonable response."

Tags: Tax Reform, Transportation Benefits, UBIT
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IRS issues guidance aimed at limiting impact of tax on nonprofits' parking expenses

David L. Thompson, Vice President of Public Policy of the National Council of Nonprofits, was critical of the IRS’s notice and said that it demonstrates that the tax on nonprofits’ expenses for transportation benefits needs to be repealed.

Tags: Tax Reform, Transportation Benefits, UBIT
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IRS gives tax guidance on parking expenses to nonprofits

Nonprofits were not overly impressed with the new guidance and are hoping for a full repeal of the provision in the Tax Cuts and Jobs Act.

Tags: Transportation Benefits, UBIT, Tax Reform

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