Equilibrium Between Taxes And A Universal Charitable Deduction
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 million, compared with the $1.5 billion in costs from forgone federal income tax revenue. “The bu...
Source: thenonprofittimes.com