Universal Deduction, Nonprofit Loans, Grants In Stimulus

Universal Deduction, Nonprofit Loans, Grants In Stimulus

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“Access to emergency loans will help keep the doors of many nonprofits open, so they can continue serving their communities,” said Tim Delaney, president and CEO of the National Council of Nonprofits. He described the inclusion of a universal, non-itemizer deduction as a step in the right direction but the cap needs to be significantly increased and extended to 2019 tax returns.

“Nonprofits cannot afford to look solely at Congress, however, because these new federal laws will trigger state legislatures and governors to change their laws to accommodate, which means nonprofits can win or lose more at the state level without substantial advocacy there as well,” Delaney said.

Source Name: 
The NonProfit Times

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