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Fiscal Cliff Leaves Nonprofits on Edge

November 29, 2012
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Charities are worried this may be the last season of giving. As Congress grapples with tax reform and deficit reduction, lawmakers are looking at limiting some long-standing tax deductions, including the one for charitable giving, as a way to raise revenue. President Obama already supports limiting the amount of tax-free giving Americans can do. His proposed 2013 budget would limit the value of all itemized deductions to 28 percent for families making $250,000 or more a year, or for individuals making $200,000 and up....

 

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