December 14, 2011
ECFA is working with a coalition of nonprofit groups urging Congress to continue to preserve the charitable contribution deduction during upcoming discussions associated with deficit reductions, expiring tax cuts and other related tax measures. This is part of the continued work to help members of Congress understand the importance of the charitable contribution deduction for churches and ministries.
As the letter states, "Charities leverage charitable contributions to bridge the gap by serving those in need and our communities as budgetary constraints hinder state and federal governments from providing similar services. These charity-provided services are critical, and reducing charitable giving does not just harm the nonprofit sector, it also hurts those in the lowest income brackets who rely heavily upon charitable services. If the charitable deduction were capped, reduced or eliminated, wealthy Americans will not bear the brunt of any changes made to itemized deductions that negatively impact charitable giving—America’s poor will."
ECFA is committed continuing to educate members of Congress of the large implications that this deduction has in carrying out the work of ECFA members.
This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.