New laws will affect nonprofits’ work | TheNewsTribune.com | Tacoma, WA

New laws will affect nonprofits’ work | TheNewsTribune.com | Tacoma, WA: "New laws will affect nonprofits’ work

LIZ HEATH
Published: November 9th, 2005 03:00 AM
Here come the lawmakers. As I wrote in my last column, Congress will soon be presented with several pieces of legislation from the Senate Finance Committee. What they will address is as yet unknown. But others are not waiting. In the past few weeks we have seen several bills presented or proposed.

In late September, as part of the Katrina Emergency Relief Act, several changes regarding charitable giving were made. As reported by Independent Sector, the tax package includes a “temporary suspension of the income limits on new individual cash charitable donations in 2005.” Wonderfully, this applies to donations to all charitable organizations, not just those involved in Katrina relief work."