In 2017, Congress passed a tax reform bill that eliminated the universal charitable deduction. This change has cost nonprofits at least $15 billion each year in charitable donations from individuals.
Next week, two representatives are set to introduce a bill to the House that will restore the non-itemizer charitable deduction and raise the caps from $300 for individuals/$600 for joint filers to approx. $4,600 for individuals/$9,200 for joint filers.
The Charitable Giving Coalition is sending a letter of support to the bill’s sponsors. Your organization can sign this letter of support. The deadline to sign is Monday, May 15 at 4 p.m.
Special thanks to our friends at Momentum Nonprofit Partners for sharing this information.