Independent Sector advocates for policies that encourage Americans to contribute to the charitable causes of their choice by providing tax deductions for their gifts and tax incentives for volunteer service, removing tax obstacles to charitable gifts, and maximizing gifts from private foundations.
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CHARITABLE DEDUCTION |
ESTATE TAX |
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Potential changes to incentives for charitable giving in the tax code have been part of deficit reduction and tax reform discussions for much of 2011, including a proposal offered by President Obama that would cap the charitable deduction at 28 percent for high-income taxpayers.
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Maintaining the federal estate tax will protect farms and small businesses and preserve incentives for wealthy Americans to give back to their communities through bequests. |
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Volunteer Mileage |
iRA charitable rollover |
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The Internal Revenue Service (IRS) has the authority to regulate volunteer mileage rates for business and medical/moving purposes, but not for charitable activities. The charitable rate has remained unchanged since 1997. |
Extending and expanding this provision will allow older taxpayers to make tax-free donations to charities directly from their Individual Retirement Accounts (IRAs). |
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