The Chronicle, 11/23/2005: New Tax Provision Worries Some Charities: "New Tax Provision Worries Some Charities
By Grant Williams
Washington
A bill passed by the U.S. Senate last week to encourage charitable giving is worrying some nonprofit leaders. They fear that a key provision in the legislation, if enacted into law, could put a damper on giving by Americans with modest incomes who itemize on their tax returns.
The Senate-passed measure — included in a comprehensive tax bill that deal with many areas beyond charitable giving — was designed to spur donations in several ways. The chief method would allow people who do not itemize deductions on their tax returns to write off a portion of their charitable donations. Individuals could write off the sums above $210 that they donate each year to nonprofit organizations; couples filing jointly could write off the amount that exceeds $420."
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