Patricia McGuire: Charity Must Prevail

Patricia McGuire: Charity Must Prevail: Now comes the spectre of a more frontal assault on charity -- the potential for a reduction in the charitable gift income tax deduction as part of the "fiscal cliff" negotiations. Reducing or eliminating the charitable gift deduction would devastate thousands of charities and crystallize the nation's long retreat from a clear national commitment to "habits of the heart."

Deduction cap proposal alarms charities _ especially colleges, who rely more on wealthy donors | Fox News

Deduction cap proposal alarms charities _ especially colleges, who rely more on wealthy donors | Fox News: Colgate cast a wide net. But like most big fundraising campaigns, particularly in higher education, the lion's share came from wealthy benefactors rewarded in return with a combination of altruistic satisfaction, naming rights — and a big tax deduction.

Now that tax deduction may be in jeopardy, and some in higher education are worried.

Charities Would Lose $10-Billion Under Tax Cap, White House Says - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Charities Would Lose $10-Billion Under Tax Cap, White House Says - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Charities Would Lose $10-Billion Under Tax Cap, White House Says

December 3, 2012, 9:25 am

By Doug Donovan

President Obama won’ t support an annual limit on deductions, including those for charitable giving, as the White House issued an estimate that such a break would cost charities at least $10-billion a year.

That will come as a relief to nonprofit leaders who say such limits are essentially the same as ending charitable deductions.

Small Charitable Donations Bill moves to House of Lords

Small Charitable Donations Bill moves to House of Lords: Amendments to the Small Charitable Donations Bill that will make the gift aid small donations scheme more accessible to smaller and newer charitable and community organisations have been passed by the House of Commons as the Bill heads to the House of Lords.

Last week umbrella bodies celebrated some success in campaigning to reduce the bureaucratic burden of the Bill as the Chancellor introduced amendments to make the GASDS more accessible. At the third reading of the House of Commons yesterday these amendments were passed.

Should the Charitable Tax Deduction Be Eliminated? - US News and World Report

Should the Charitable Tax Deduction Be Eliminated? - US News and World Report: Should the Charitable Tax Deduction Be Eliminated?
Policymakers are considering doing away with or reducing the tax break for charitable giving

Nonprofits defend tax break - Nov. 20, 2012

Nonprofits defend tax break - Nov. 20, 2012: WASHINGTON (CNNMoney) -- Charities and nonprofits are digging in their heels on Capitol Hill as they prepare to defend tax breaks for charitable donations that are under threat from the fiscal cliff.

Charitable Tax Breaks Could Take Hit During Lame-Duck Session Of Congress

Charitable Tax Breaks Could Take Hit During Lame-Duck Session Of Congress: Congress could choose to change the limitations on charitable tax deductions during its lame-duck session aimed at tackling expiring tax laws and automatic budget cuts, according to the Independent Sector.

President Obama has long proposed changes to charitable-giving tax breaks that would limit deductions to 28 percent for individuals earning more than $200,000 and married couples earning more than $250,000, according to Bloomberg. The current deduction limit is 35 percent.