By Tim Thaney on Tuesday, 21 November 2017
Category: Uncategorized

Current Tax Proposals and the Impact on the Not-for-Profit Community

The proposed tax legislation is still far from law, but the not for profit community may be negatively impacted by the current proposals. Simply put, many taxpayers who currently itemize, may take the standard deduction under the proposed legislation thereby reducing the benefit of making a charitable contribution.

Two nonprofit advocacy groups, the National Council of NonProfits and the Council on Foundations have issued a joint statement on their view that this legislation would be harmful to nonprofit organizations.   These groups are also concerned about other changes in regulations that would allow for nonprofits, including churches to participate in the political process.  Their statement is available at the following link:

https://www.councilofnonprofits.org/article/charitable-nonprofits-foundations-agree-it-s-time-vote-no-the-house-tax-bill

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