Universal Charitable Deduction News Today

A preface to the document lists the agency’s priorities as “protecting life, safeguarding religious liberty, bolstering marriage and families, and upholding human dignity.”

As nonprofit organizations continue to regain footing from the pandemic, many are also preparing for another wave of difficulties due to inflation and a looming recession. Heather Iliff, Executive Director of Maryland Nonprofits, the statewide organization that supports and advocates for nonprofits in Maryland, said that many nonprofits do not even consider themselves fully recouped. ...

Nonprofits and businesses have been working more closely than ever during the last few years — advocating for changes to federal policies like the Paycheck Protection Program, collaborating on community-focused projects and navigating challenges unseen in generations.

Equilibrium Between Taxes And A Universal Charitable Deduction May 3, 2021 A Universal Charitable Deduction (UCD) that kicks in at 1.9% of adjusted gross income (AGI) would create the optimal balance between generating donations and federal tax subsidies, according to new research. Congress created a one-year UCD of $300 as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act but that might add to giving by “only a tiny amount” and provide recipients with as little as $100...

Nonprofits Get Limited Relief In Stimulus Deal December 22, 2020 The $900-billion stimulus package approved by Congress in response to the pandemic includes some key measures supported by nonprofit constituencies but some say it doesn’t do enough for the nation’s charities and hope for more Congressional action in 2021. The COVID-19 Relief Bill and Consolidated Appropriations Act of 2021 funds appropriations for the federal government, includes COVID relief and extends expiring tax provisio...