Charitable Deduction

ACR Statement on Passage of Senate Tax Reform Bill

WASHINGTON, D.C.— The Alliance for Charitable Reform (ACR) released the following statement upon passage of the Senate version of the Tax Cuts and Jobs Act. “We applaud Congress’ objectives of economic growth and tax simplification in tax reform, and we are grateful that both the House and Senate versions of the legislation preserve the charitable […]

Economic Growth (Probably) Won’t Make Up for Lost Charitable Giving

One of the claims being made during the debate over tax reform and its likely effect on charitable giving is that any reduction in donations due to the increased standard deduction (estimated by a couple of sources to be between $12 billion and $20 billion annually) will be made up for by increased economic growth. […]

Charitable Giving is Not a “Tax Dodge”

The time of year stretching from late November through New Year’s Eve is often known as the “Giving Season,” as many Americans not only celebrate the holidays but also find a little extra to give to charities and those in need. And while it is almost surely several places out of first on any donor’s […]

Action Alert: An Update on Tax Reform

After many starts and stops over the last 30 years, Congress is poised to complete a comprehensive rewrite of the tax code. The House of Representatives passed its version of the Tax Cuts and Jobs Act on Thursday, November 16. Later that same evening, the Senate Finance Committee completed the amendment process of the Senate […]

ACR News 11.17.17 – Two Tax Bills. What’s the Same? What’s Different? And What’s Next?

>> Federal: Washington Roundup >> Federal: The Details >> Federal: Notable Omissions >> Federal: Tax Policy Center and JCT Analysis >> Federal: Universal Charitable Giving Act >> Federal: Roadmap for Action – November >> Consider This: It Ain’t Over Till It’s Over >> Top Reads: House Signs Off On Tax Bill That Hurts Charities Washington Roundup Congress […]

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 […]

Universal Charitable Deduction, CHARITY Act Offered as Amendments to Senate Tax Reform Bill

WASHINGTON, D.C.— Two amendments aimed at protecting and expanding charitable giving will be considered by the Senate Finance Committee this week during the markup of the Senate tax reform bill, the Tax Cuts and Jobs Act. The first is an amendment from Sens. Debbie Stabenow (D-MI) and Ron Wyden (D-OR) that seeks to prevent almost […]

ACR News 11.10.17 – Tax Reform in Full Swing

>> Federal: House Tax Reform Bill >> Federal: Senate Tax Reform Bill >> Federal: JCT Analysis Tax reform is now in full swing with legislation having been unveiled in both houses of Congress and the Ways and Means Committee advancing the House version for consideration on the floor of the House. We provide all the […]

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, […]