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.
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