http://acreform.com/article en michiko@mercuryseattle.com Copyright 2012 2012-02-03T21:14:18+00:00 http://acreform.com/site/only_charitable_deduction_preserved_in_new_buffet_rule_tax_proposal/ http://acreform.com/site/only_charitable_deduction_preserved_in_new_buffet_rule_tax_proposal/#When:21:14:18Z By Diane Freda The charitable contribution deduction is the only deduction that would be allowed under the Buffett rule tax proposed by Sen. Sheldon Whitehouse (D-R.I.), in legislation that would ensure that millionaires pay a minimum effective 30 percent tax rate, charitable sources told Bloomberg BNA Feb. 2. “The legislation builds on what the president’s blueprint stated, which was that the administration is going to impose the [Buffett rule tax] on individuals with certain high incomes, but is going to hold harmless their contributions to charity,” Sandra Swirski, executive director of the Alliance for Charitable Reform, said. Charitable Deduction, Federal, ACR in the News, Federal Legislation 2012-02-03T21:14:18+00:00 http://acreform.com/site/acr_statement_on_the_charitable_deduction_inclusion_in_senate_buffet_rul/ http://acreform.com/site/acr_statement_on_the_charitable_deduction_inclusion_in_senate_buffet_rul/#When:15:16:13Z WASHINGTON, D.C.— In announcing “The Paying the Fair Share Act”, a proposal for a new tax on high earners put forth by 8 Senate Democrats, the charitable deduction was specifically preserved, signaling that incentives for private giving should not be used as a revenue offset for competing priorities. “ACR believes that our tax code should encourage and incentivize private charitable giving.  We appreciate the wide recognition that the charitable deduction is different from all other deductions in that it is an incentive for Americans to give away their money as compared to other deductions and credits. However, ACR also believes that encouraging entrepreneurship and the creation of wealth is vital to sustaining charitable giving and a surtax on high income earners could hinder this goal.  We are hopeful Congress and the Administration can come together and create a proposal that accomplishes all of these goals to promote more philanthropy,” said Sue Santa, senior vice president of the Philanthropy Roundtable. Charitable Deduction, Press Releases, Federal Legislation, Add to Pressing Topic 2012-02-02T15:16:13+00:00 http://acreform.com/site/charitable_deduction_-_central/ http://acreform.com/site/charitable_deduction_-_central/#When:22:12:03Z NEWS President’s State of the Union Address 1.27.12 - Bloomberg BNA reports that The Obama Administration may be stepping back from its former proposal to cap charitable deductions at 28 percent despite a proposed increase to their incomes taxes. ACR signs onto letter defending the charitable deduction 12.15.11 - Today, ACR and The Philanthropy Roundtable joined a coalition other nonprofit organizations across the country send a letter to Senate Finance Chairman Max Baucus reminding him of the importance of the charitable deduction during this giving season. Click here to learn more RESOURCES Following are resources that provide background on efforts at the federal level to impact the charitable giving. Quick Downloads: ACR Hill Packet, ACR Press Packet Essential Documents: Hill Packet, Press Packet, State Giving Profiles (compiled by Independent Sector), Giving by the Numbers News News stories we have highlighted and find of interest. 1/25/12 President Vows Not to Deter Wealthy From Giving, Chronicle of Philanthropy 1/24/12 Obama Lays Out Policy Proposals, Wall Street Journal 1/9/12 Nonprofit Views Offered by the Republican Presidential Contenders, Chronicle of Philanthropy 11/22/11 ‘Super Committee’ Breakdown Could Hurt Nonprofits, Chronicle of Philanthropy 11/20/11 Nonprofits Worry They’ll Take a Hit in Debt-reduction Proposals, Washington Post 11/1911 Charitable organizations struggle with how tax law changes will affect donations, Palm Beach Daily News 11/18/11 Secretive ‘Super Committee’ Gives Nonprofits a Super Headache, Chronicle of Philanthropy 11/17/11 Charitable Deduction Faces a Fresh Challenge as Lawmakers Attempt to Close Deficit, Chronicle of Philanthropy 11/17/11 GOP deficit reduction plan limits itemized tax deductions, health insurance tax breaks, New York Times 11/11/11 Charitable Deduction Not Discussed at Deficit Talks, Chronicle of Philanthropy 11/7/11 G.O.P. Talks of Limiting Tax Breaks, New York Times10/26/11 Obama Tax Plan Would Have ‘Modest’ Impact on Giving, New Study Finds, Chronicle of Philanthropy 10/20/11 New Study Says Charities Could Lose Up to $3.2-Billion From Obama Tax Change, Chronicle of Philanthropy 10/18/11 Hatch Cites Impact on Charities if Tax Write-off is Cut, Washington Times 10/18/11 Hatch Urges Obama to Drop Plan to Cap Charitable Deductions, Bloomberg Business 10/18/11 Mormon Apostle to Senate: Keep charitable deductions, Salt Lake Tribune 10/7/11 Charitable Deduction Cap Pulled From Bill, NonProfit Times 9/29/11 19 Major Nonprofits Lobby To Keep Charitable Deductions, The NonProfit Times 9/27/11 A Cap on Tax Benefits for Donations in Obama’s Jobs Proposal Worries Nonprofits, Denver Post 9/23/11 Obama Scrambles Charities, Wall Street Journal 9/19/11 Arts groups worry about Obama’s plan to cut tax breaks for wealthy, Washington Post 9/15/11 Soak the Rich? No, Soak the Needy, Wall Street Journal (Fay Vincent) 9/15/11 Nonprofits Fight Proposal to Curb Charity Tax Breaks, Chornicle of Philanthropy 9/14/11 Lukewarm Response for Jobs Bill Payment Plan, Roll Call 9/13/11 John Thune Begins to Raise His National Profile, Washington Post 4/26/10 Charities Fear Tax Plan will Stifle Donations, Los Angeles Business Journal 8/7/09 Washington Update: Charitable Deduction and Social Innovation Fund, Chronicle of Philanthropy (Audio Interview) 2/26/09 Obama Plan Would Reduce Charitable Deduction for Some Wealthy Donors, Chronicle of Philanthropy Research Studies, reports and polling information on the impact of changes to the charitable deduction from a variety of sources. Academic Center on Philanthropy, Indiana University: Impact of The Obama Administration’s Proposed Tax Policy Changes on Itemized Charitable Giving (2011) University of California, Davis: How Does the Incentive Effect of the Charitable Deduction Vary Across Charities? (Published 2011) Center on Philanthropy, Indiana University: The 2010 Study of High Net Worth Philanthropy: Issues Driving Charitable Activities among Affluent Households” (2010) Center on Philanthropy, Indiana University: How Changes in Tax Rates Might Affect Itemized Charitable Deductions (2009) Boston College: Charitable Giving: How Much, By Whom, To What, and How? (2002) Urban Institute: The Cost of Giving: How Do Changes in Tax Deductions Affect Charitable Contributions? (2001) Government Congressional Budget Office: Options for Changing the Tax Treatment of Charitable Giving (2011) Congressional Budget Office: Budget Options Volume 2 (2009) Congressional Research Service: Charitable Contributions: The Itemized Deduction Cap and Other FY2011 Budget Options (2010) Congressional Research Service: Economic Analysis of the Charitable Contribution Deduction for Non-Itemizers (2003) Think Tanks Heritage Foundation:Obama’s Latest Proposal to Reduce Charitable Deductions Would Crowd Out Civil Society (2011) Tax Policy Center: Would Obama’s Plan to Curb Deductions Hurt Charities? (2009) Center for Budget and Policy Priorities: Proposal to Cap Deductions for High-Income Households Would Reduce Charitable Contributions by Only 1.9 Percent (2009) Association for the Study of Religion, Economics, and Culture: Income Tax Policy and Charitable Giving (2005) Polls Fundraisers:9/14/11 Charitable Groups will Fight Obama Tax Bill, DailyCaller 9/13/11 Obama stumbles on taxes, Buffalo News 7/25/11 Keep the Charitable Deduction, Herald Tribune 7/25/11 Encourage Charitable Deductions, Miami Herald 7/25/11 Charitable Deduction, Federal, Federal Legislation 2012-01-27T22:12:03+00:00 http://acreform.com/site/tax_policy_geeks_take_center_stage/ http://acreform.com/site/tax_policy_geeks_take_center_stage/#When:17:00:06Z Ok, we admit it.  We’re geeks.  Policy geeks.  Tax policy geeks if the truth be told. Normally when we tell someone our specialty is tax, we get an eye roll, or worse.  Unless we are with our tax policy peers, we often feel like the skunk at the garden party. So imagine our sense of wonder over all of the activity in tax world in the last few months.  First, Herman Cain gave us 9-9-9, next… Federal Legislation 2012-01-27T17:00:06+00:00 http://acreform.com/site/newsletter_1.27.12/ http://acreform.com/site/newsletter_1.27.12/#When:16:49:24Z The latest edition of the ACR newsletter is available below. Here are highlights: Upcoming Event Summit for Leaders Washington Roundup: - State of the Union - Legislative Activity Consider This:Tax Policy Geeks Take Center Stage—Tax Plans and Reform Charitable Deduction, Federal Legislation, State Legislation 2012-01-27T16:49:24+00:00 http://acreform.com/site/obama_blueprint_may_signal_retreat_from_limit_on_charitable_deductions/ http://acreform.com/site/obama_blueprint_may_signal_retreat_from_limit_on_charitable_deductions/#When:16:31:59Z This morning BNA reported that the Administration may be stepping back from previous proposals to cap charitable deductions at 28 percent. Here’s an excerpt from the article: “The past three budgets the president has submitted have included a limit to the charitable deduction in every single one of them, through limiting itemized deductions,” said Sandra Swirski, director of Alliance for Charitable Reform. “He’s also raised limiting the charitable deduction as a pay-for in at least two of his bills, one on health care, the other a jobs bill. So it keeps coming up.” However, Swirski said she is now “cautiously optimistic” that when the president’s budget is revealed Feb. 13, Obama’s “stepping away” from the proposal will be clear…. Read the full article here Charitable Deduction, ACR in the News, Federal Legislation 2012-01-27T16:31:59+00:00 http://acreform.com/site/alliance_for_charitable_reform_statement_on_state_of_the_union_address/ http://acreform.com/site/alliance_for_charitable_reform_statement_on_state_of_the_union_address/#When:21:05:42Z ACR is cautiously optimistic that all the pressure we and others have brought to bear may finally be resonating with the Administration. We believe that our tax code should encourage and incentivize private charitable giving. We appreciate that the President seems to acknowledge the value of charitable giving but we remain cautious and won’t speculate until we see the details of the President’s plan. Charitable Deduction, Press Releases, Federal Legislation, Add to Pressing Topic 2012-01-25T21:05:42+00:00 http://acreform.com/site/registration_now_open_-_acr_summit_for_leaders/ http://acreform.com/site/registration_now_open_-_acr_summit_for_leaders/#When:17:45:16Z The Alliance for Charitable Reform (ACR) invites you to the nation’s capital for our third annual ACR Summit for Leaders. Wednesday, March 21, 2012 8:00 a.m. - 12:00 p.m. Mayflower Renaissance Hotel 1127 Connecticut Avenue NW Washington, D.C. 20036 REGISTER NOW The ACR Summit for Leaders offers a half-day of programming to provide a snapshot of the current political issues impacting philanthropy and nonprofits, and guidance on how to effectively advance your cause in Washington amid competing priorities and constant commotion. The Summit is an excellent opportunity for foundation executives, nonprofit leaders, and others interested in the intersection of public policy and philanthropy. Federal Legislation, Add to Pressing Topic, Events 2012-01-17T17:45:16+00:00 http://acreform.com/site/2012_congressional_forecast/ http://acreform.com/site/2012_congressional_forecast/#When:15:27:23Z Well the curtain is up on 2012.  What should we expect from Washington this year? The short answer is not much until the bitter end.  The longer answer: If you thought last year was a nightmare on Capitol Hill, this year is likely to be a whole lot worse.  With control of the Presidency, Senate and House all up in the air, it is going to be all politics, all the time. So what can we expect in the short term? Federal Legislation 2012-01-13T15:27:23+00:00 http://acreform.com/site/newsletter_1.13.12/ http://acreform.com/site/newsletter_1.13.12/#When:15:09:25Z Happy New Year and welcome to 2012! We anticipate a busy year ahead and look forward to keeping you up to date on the issues that matter to our community. The latest edition of the ACR newsletter is available below. Here are highlights: Washington Roundup: - Current State of Play - What’s Next Consider This: 2012 Congressional Forecast Charitable Deduction, Federal Legislation, State Legislation 2012-01-13T15:09:25+00:00