Nonprofits Identify Need for Disaster Relief Tax Package

Nonprofits Identify Need for Disaster Relief Tax Package

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“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 Disaster Tax Relief Task Force, chaired by Sen. Richard Burr, R-N.C., was one of six that were set up by the committee to review expired and expiring tax provisions. So far, four reports have been issued on energy, cost recovery, individual tax policies, and employment and community development.

“The nonprofit community hopes the task force report shows due respect for the disaster relief and recovery work of charitable organizations by proposing temporary, targeted giving incentives, and other vital supports,” Thompson added.

The council and 42 state nonprofit associations hope the report will include four tax-related proposals offered by the coalition in a June letter.

A key proposal would extend the charitable deduction to non-itemizers who donate to disaster relief and recovery efforts. According to the letter, the tax break would be temporary — about six months after the disaster declaration — and would be available only to charities that provide relief and recovery in the designated disaster area.

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Tax Notes
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