U.S. should not reduce the rich's tax incentive to give to charity | NJ.com

U.S. should not reduce the rich's tax incentive to give to charity | NJ.com: I understand the president’s ongoing objective here: He is attempting to level the playing field such that individuals and families of all income levels can give to charity and receive equitable tax benefits. Although equity is a laudable goal in other areas, shouldn’t the objective of philanthropy instead be to maximize revenue paid to the social sector, thereby better capitalizing charitable organizations that seek to help our society’s most vulnerable?

Instead of reducing the tax incentives (or any incentives) of charitable giving, every effort should be made to incentivize wealthy Americans — those who can afford to give generously — to continue donating to tax-exempt organizations of their choice, especially those charities providing services to the needy.

Heard on the Web: Substantiating Charitable Gifts - Specimen Letter To Donor-Clients

Heard on the Web: Substantiating Charitable Gifts - Specimen Letter To Donor-Clients

Standard Automobile Mileage Rates for 2012 | Planned Giving Design Center

Standard Automobile Mileage Rates for 2012 | Planned Giving Design Center: The IRS has issued guidance for standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes for 2012. The rate for rendering gratuitous services to a charitable organization is 14 cents per mile.

Automatic Revocation of Exemption

Automatic Revocation of Exemption: "Automatic Revocation of Exemption


Most tax-exempt organizations are required to file an annual return or notice with the Internal Revenue Service. (See Annual Return Filing Exceptions for a list of organizations that are not required to file.) Section 6033(j) of the Internal Revenue Code automatically revokes the exemption of any organization that fails to satisfy its filing requirement for three consecutive years. The automatic revocation of exemption is effective as of the due date of the third required annual filing or notice."

Small Business Health Care Tax Credit: Frequently Asked Questions

Small Business Health Care Tax Credit: Frequently Asked Questions: "2. Can a tax-exempt organization be a qualified employer?

A. Yes. The same definition of qualified employer applies to an organization described in Code section 501(c) that is exempt from tax under Code section 501(a). However, see Q/A-11 for special rules that apply in calculating the credit for a tax-exempt qualified employer. An employer that is an agency or instrumentality of the federal government, or of a state, local or Indian tribal government, is not a qualified employer unless it is an organization described in Code section 501(c) that is exempt from tax under Code section 501(a)."

Majority Of Tax-Exempts Pay Tax Anyway

Majority Of Tax-Exempts Pay Tax Anyway: "Majority Of Tax-Exempts Pay Tax Anyway

By Samuel J. Fanburg

Some 63 percent of nonprofits reported paying various types of fee and taxes to local and state governments during 2010. Of these types of assessments, 17 percent reported paying field-specific taxes, 36 percent paid “other payments,” 9 percent paid PILOT (payments in lieu of taxes) and 42 percent of nonprofits paid user fees."

Impact of December, 2010 Tax Law Changes on Charitable Giving | Planned Giving Design Center

From December 2010 via PGDC

Impact of December, 2010 Tax Law Changes on Charitable Giving | Planned Giving Design Center: "On December 17 the president signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This much-anticipated legislation features continuation of tax cuts that were scheduled to expire, extension of unemployment benefits, and other measures designed to stimulate the economy."

Paulette's Point of View

Paulette's Point of View: "There’s no bigger issue right now than healthcare, and charities have been right in the middle of it. In particular, AFP has been following a proposal to reduce the value of the charitable deduction (basically, delinking it from the tax rate) to raise additional revenue."

Charity Tax Breaks Stall in Congress - Philanthropy.com

From the Chronicle
Charity Tax Breaks Stall in Congress - Philanthropy.com: "Charity Tax Breaks Stall in Congress

Leaders in the U.S. House of Representatives have announced they will adjourn without reconciling a set of tax breaks, including several measures that would affect charitable giving, with a bill passed earlier this month by the Senate."

IRS Official Takes New Role Monitoring Charities in Senate - Philanthropy.com

From the Chronicle of Philanthropy

IRS Official Takes New Role Monitoring Charities in Senate - Philanthropy.com: "Sen. Charles Grassley has tapped a former Internal Revenue Service official to replace a well-known former aide who had aggressively pursued efforts to regulate nonprofit organizations.

Theresa Pattara, a project manager at the IRS Office of Exempt Organizations, will replace Dean Zerbe as Mr. Grassley’s senior tax counsel. Mr. Zerbe left the post in February to join the Washington office of the Alliant Group, a Houston tax-consulting company."

Conservation Tax Law Has Few Takers on the Vineyard - 01/4/08 - Vineyard Gazette Online

Conservation Tax Law Has Few Takers on the Vineyard - 01/4/08 - Vineyard Gazette Online: "Conservation Tax Law Has Few Takers on the Vineyard
By MIKE SECCOMBE

About 130 acres of land on the Vineyard was permanently protected from development under new conservation restrictions in 2007, according to state government figures.

The relatively disappointing result was in spite of generous tax incentives — which expired at year’s end — and in sharp contrast to figures for the state as a whole."