The Evidence is Stacking Up: Current Tax Reform Bills Will Reduce Charitable Giving
New research from the Tax Policy Center has told us how charitable giving will be affected by the House tax reform bill, H.R. 1, the Tax Cuts and Jobs Act, and it’s basically what we already knew. Even though the House version of the Tax Cuts and Jobs Act (TCJA) preserves the charitable income tax […]
Itemized Charitable Deductions Will Fall $95 Billion Under House Tax Reform Bill
With the markup of the House Republican tax reform bill, H.R. 1, the Tax Cuts and Jobs Act of 2017, in full swing, the Joint Committee on Taxation released a memorandum yesterday that confirmed the very concerns that ACR and our partners in the nonprofit sector have been proclaiming for months. “For tax year 2018, […]
What’s in the House Tax Bill?
Yesterday, House Republicans issued their tax reform bill, H.R. 1, the Tax Cuts and Jobs Act. As was anticipated, the tax reform bill doubles the standard deduction, reducing the number of itemizers from one-third of Americans to about five percent. According to IRS data, this would remove the tax incentive for an estimated $95 billion […]
ACR Sessions at The Philanthropy Roundtable Annual Meeting
Last week, The Philanthropy Roundtable held its Annual Meeting in Scottsdale, AZ. As part of the programming, the Alliance for Charitable Reform held a panel on tax policy and charitable giving featuring Robert Sharpe, chairman of the Sharpe Group, and Sandra Swirski, ACR executive director. Pete Bird of the Frist Foundation moderated the panel which […]
Guest Post: The Greater Give
As currently contemplated by Congress, tax reform could lead to a decrease in giving. The Alliance for Charitable Reform and many of our allies in civil society are promoting what we call the Universal Charitable Deduction, which would allow all Americans to deduct their charitable donations from income (more on that idea here). Other ideas […]
ACR News 10.13.17 – Universal Charitable Deduction Legislation Introduced
>> Federal: Washington Roundup >> Federal: Tax Reform? >> Federal: Universal Charitable Giving Act of 2017 >> Federal: Roadmap for Action – October >> Consider This: Walk the Plank >> Top Reads: Nonprofits Battle to Get Charitable Deduction Extended to All Taxpayers Washington Roundup Last week, the House and Senate both took important steps toward tax reform […]
(VIDEO): WSJ Discusses “Sacred Cows” and Expanded Standard Deduction
Richard Rubin, the tax policy reporter for the Wall Street Journal, heads to the farm in this entertaining and educational video to discuss the “sacred cows” in the tax code and explains how a larger standard deduction squeezes itemized deductions.
Progressive funders fund progressive group. Also, water is wet.
The Washington Free Beacon is an online newspaper based in Washington, DC, with a decidedly conservative bent. It published an article Wednesday revealing the funders supporting the progressive organization Center for Community Change: The hidden donors to a prominent anti-Trump “resistance” organization are revealed in unredacted tax forms obtained by the Washington Free Beacon. The […]
Donor Dad Wants to Stay Anonymous
The right of individual donors to decide whether they want to be publicly associated with their gifts is an important component of philanthropic freedom, and a core civic freedom as well that the U.S. Supreme Court has recognized on several occasions, perhaps most notably in the 1958 decision NAACP v. Alabama. There are many reasons […]