Coalition questions proposed caps on tax deductions for nonprofit ...

Bill Rieth, head of the United Way of Elkhart County, speaks to congressional leaders about tax deductions for donations to nonprofit groups.

Nonprofit groups are continuing the fight to maintain tax deductions in place for charitable donations. In February, I wrote a couple of stories about the head of the United Way of Elkhart County traveling to Washington D.C. to testify before Congress about donations and incentives for giving to nonprofit organizations. And just a couple of days ago, I received a news release from the Charitable Giving Coalition, a group that focuses its efforts to protect tax deductible donations for philanthropic nonprofits. Members of the coalition include United Way Worldwide, the Salvation Army and Catholic Charities among others.

Here?s a statement that was included in the release on behalf of the coalition from John Ashmen, president of the Association of Gospel Rescue Missions:

?The coalition is alarmed that the Senate?s proposed budget plan does not protect the unique value of charitable deduction, especially now as communities continue to struggle to overcome a bruising recession. We simply can?t afford to chip away at incentives that encourage charitable giving. Doing so will have profound consequences for our communities and vital efforts that heal, educate, innovate and more.

Let?s be clear. The millions of disadvantaged people who need the most support ? not donors ? will be hit hardest by limits or caps to the charitable deduction. We would put at risk billions of dollars in private donations and just transfer to the government funds that would otherwise go to charity.

Elected leaders certainly have to make tough decisions to address our fiscal challenges, but limiting the charitable deduction is no solution. We are determined to make sure lawmakers clearly understand that this century-old tax incentive is unique. It encourages giving, provides no financial benefit to the donor and helps meet critical community needs. The nation?s budget crisis is undeniable, but that is exactly why we should be creating more ways to encourage giving ? not less.?

What do you think? Should tax deductible donations for charities remain in place? Should there should be limits on the value of deductions?

Email me at abarbazon@etruth.com. Follow me on Twitter and Facebook.

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Source: http://blogs.etruth.com/ontherecord/2013/03/16/coalition-questions-proposed-caps-on-tax-deductions-for-nonprofit-donations/?utm_source=rss&utm_medium=rss&utm_campaign=coalition-questions-proposed-caps-on-tax-deductions-for-nonprofit-donations

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