Legislative Updates
Obama Plan to Limit Charitable Deduction No Longer Likely
Senate Democrats rejected President Obama’s proposal to pay for a jobs bill by limiting the tax…
Obama’s Job-Creation Package Would Cap Itemized Deductions
President Obama’s $447 billion job-creation package would cap itemized deductions—including those…
Proposal to Limit the Charitable Deduction Part of Summer Debt Ceiling Negotiations
As federal lawmakers seek to hammer out a deal to raise the federal debt ceiling by August 2, President…
[Legislative Update] 275,000 Nonprofits Lose Tax-Exempt Status
On June 8, 2011, approximately 275,000 nonprofit organizations lost their tax-exempt status for failure…
[Legislative Update] October 15 Deadline for Small Charities to Retain Tax-Exemption
In the past, 501(c)(3) public charities with annual income below $25,000 were exempt from filing the…