11/20/11 Charitable organizations struggle with how tax law changes will affect donations -- Washington Post
11/22/11 'Super Committee' Breakdown Could Hurt Nonprofits -- Chronicle of Philanthropy
Nonprofits worry they'll take a hit in debt-reduction proposals -- Palm Beach Daily
Charitable Deduction Not Discussed at Deficit Talks -- Chronicle of Philanthropy
Non-profits brace for impending strain on large gifts -- Rochester Business Journal
Obama Unites Country on Charitable Tax Donations -- The Fiscal Times
Video: Arts Leaders Take to Capitol Hill to Talk About Tax Breaks -- Chronicle of Philanthropy
Charitable Deduction Cap Pulled From Bill -- Nonprofit Times
Nonprofits Lobby to Keep Charitable Deductions -- Nonprofit Times
Lukewarm Response for Jobs Bill Payment Plan -- Roll Call
Why Obama’s Jobs Bill Could Be Bad for Charity -- Wall Street Journal
Obama’s Jobs Bill Includes Plan to Limit Charitable Deductions for the Wealthy-- Chronicle of Philanthropy
Charitable Deduction Could Be Under Threat in Coming Deficit-Panel Talks-- Chronicle of Higher Education
Charitable Deduction Not Touched in Debt-Ceiling Deal-- Chronicle of Philanthropy
Key Senator Asks Whether Charity Tax Break Is Fair to All-- Chronicle of Philanthropy
Bill to Improve Government Support for Charities Faces a Tough Climb-- Chronicle of Philanthropy
By Jeff Jacoby
When it comes to charitable giving, America is a world-beater. According to Giving USA, an annual compendium of national data on philanthropy, Americans last year donated more than $316 billion to charity, or roughly 2 percent of GDP. Contrary to popular belief, most of that money didn’t come from foundations or corporations. It came from individuals. In 2012, donations from private American households added up to about $223 billion.
LOS ANGELES— Adam Meyerson, president of The Philanthropy Roundtable, highlighted the importance of the charitable deduction in preserving our nation’s civil society in his opening remarks at the organization’s annual meeting last Thursday.
By Alejandro Chafuen, Atlas Economic Research Foundation President
“To my friends everything, to my enemies, the law.” This principle of government action has been attributed to diverse Latin American totalitarian populists. Unfortunately it seems it could well apply to the Obama administration. Using this principle to guide the monitoring of philanthropic activities in the United States can have a major destructive impact.
Tax Report Asserts Economic Benefits of Charitable Deduction
WASHINGTON, D.C.— The Alliance for Charitable Reform (ACR) commented on a report released today by the Tax Foundation, a nonpartisan tax research group, affirming the economic benefits of the charitable deduction.
“Today’s report further emphasizes how the current charitable deduction generates private giving to help those most in need,” Sandra Swirski, executive director for ACR, said. “This report also reminds us of the important role that the charitable sector plays in our economy in terms of jobs.”
by Fred Stokeld, Tax Analysts
APRIL 11 - Representatives of the charitable community are disappointed that a proposal to reduce the value of the deduction for charitable contributions to 28 percent for higher-income taxpayers, which has appeared in every budget President Obama has proposed, resurfaced in the latest budget blueprint released April 10.
Last winter, charities were relieved that a percentage or dollar cap on the deduction, which they believe would cause charitable giving to decline, was not part of the fiscal cliff deal. (Prior coverage.) They also were pleased by reports that the Obama administration, which in prior years has proposed a cap on itemized deductions to pay for deficit reduction and healthcare reform, was willing to consider an exception for charities. (Prior coverage.)
The Hill, 4/4/13
The Charitable Giving Coalition has launched a new website aimed at protecting the charitable deduction, in the nonprofit sector’s latest effort to protect the tax break from tax reform or a grand deficit bargain.
According to a release, the site will highlight how charitable giving helps communities around the country.
“We are fully committed to helping lawmakers understand the unique nature of the charitable deduction – and that it’s not a loophole, but a lifeline,” Sandra Swirski, executive director of the Alliance for Charitable Reform, said in a statement. “It’s unique because it encourages individuals to give away a portion of their income for the benefit of others.”
Sector Leaders Tell Lawmakers Limits, Caps Not a Solution to Fiscal Crisis
WASHINGTON, D.C. – Millions of people throughout America are at risk of losing crucial nonprofit services if Congress enacts limits to the century-old charitable tax deduction. Hundreds of foundation and philanthropic leaders are in Washington, D.C. this week to make sure lawmakers understand that unraveling the charitable deduction is not a solution to the budget crisis.
The timing is key as Congress and the president tackle deficit reduction and tax reform. The House and Senate both released their budget plans last week and the proposed Senate budget suggests limits to itemized deductions – one of which is the charitable deduction – putting at risk billions of dollars in charitable donations.
“The charitable deduction is unlike anything else in our tax code, encouraging people to invest in their communities without personal gain,” said Kevin Murphy, president of the Berks County Community Foundation in Pennsylvania and board chair of the Council on Foundations. “Limiting the charitable deduction would have the greatest impact on those who need the most help, especially during tough economic times. How could we possibly limit or tamper with incentives that allow people to give away their income to benefit others?”
by Howard Husock, Forbes
MARCH 8—The whiff of a so-called grand bargain to address the looming combination of long-term federal budget deficits and ever-growing entitlement costs is back in the air, thanks, in part, to what Bloomberg’s Lisa Lerer and Kathleen Hunter have described as President Obama’s “charm offensive”, including dinner with members of the other political party. “With $1.2 trillion in spending cuts mandated over the next nine years and short-term government funding set to expire on March 27,” they write, “lawmakers say the coming weeks could provide the chance for a long-term deficit-reduction bargain that has eluded Congress and Obama.” It’s clear, however—as reported by the Chronicle of Philanthropy–that the White House will continue to push for such a bargain to include new limits on the value of the charitable tax deduction. Indeed, new Treasury Secretary Jack Lew testified, during his Senate confirmation hearings, that capping charitable deductions at 28 percent of their value, even as the top marginal income tax rate rises to 39.6 percent, should be part of “an even-handed approach” to tax reform—which would limit the value of all itemized deductions. (Lew’s testimony was first highlighted in a press release issued by The Philanthropy Roundtable.)
BNA’s Daily Tax Report, By: Diane Freda
While some in the charitable sector said Jan. 4 they were relieved that the fiscal cliff legislation did not result in a flat percentage or aggregate cap on itemized deductions, they were disappointed that the Pease limitation on charitable deductions was reinstated as part of the deal.
Joanne Florino, ACR advisor, speaks with HuffPost Live about the impact of the fiscal cliff deal on charitable organizations.
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