From Nonprofits Face Challenging End-of-Year Giving Season
With the government’s budget crisis and the expiration of the Bush-era tax cuts, significant tax changes could be on the horizon for 2013—and that makes a number of potential donors nervous. President Obama has mentioned potentially reducing or eliminating the tax deduction for charitable giving, a change which Delaney says could have a devastating impact on nonprofits. “There’s talk of limiting charitable giving in terms of the deductions, and in this time when needs are so great, Congress should not be tinkering with this very important tool,” he says.