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Newsroom Statement on the Tax Relief Act of 2005
"Independent Sector supports a package of charitable giving incentives and reforms included in the Tax Relief Act of 2005. As modified by a managers’ amendment filed late last night, the bill reflects many of the recommendations made by the Panel on the Nonprofit Sector, which was convened by Independent Sector. These provisions would correct abuses by taxpayers who claim excessive tax deductions and by individuals who use charitable organizations for personal gain. It also includes several tax incentives for charitable giving that IS has long advocated. "Independent Sector commends Senate Finance Committee Chairman Charles Grassley (R-IA) and Ranking Member Max Baucus (D-MT) for their careful attention to these issues and for understanding the important balance that must be maintained between legitimate oversight of charitable activities and the essential independence of the charitable sector. In addition, IS expresses its appreciation to Senator Rick Santorum (R-PA), who ensured that charitable giving incentives were included in this bill, and to the members of the Senate Finance Committee who worked with leadership to develop a responsible package." Learn more about the legislation. ####
Independent Sector is a nonprofit, nonpartisan coalition of approximately 600 charities, foundations, and corporate philanthropy programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the charitable community. |
Copyright © 2008 Independent Sector. All Rights Reserved. Privacy Policy. |