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Nonprofits Call Cliff Deal a Victory on Giving Incentives

January 3, 2013
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Nonprofit officials declared a victory in their advocacy to preserve the charitable tax deduction after Tuesday’s congression­al vote to avert the fiscal cliff. But they remain frustrated that Congress did not resolve the $55 billion in federal spending cuts that are expected to hit social-service nonprofits particularly hard. While Congress passed some minor limits on itemized deductions that will affect the affluent, it didn’t take more potentially damaging actions affecting charitable giving that lawmakers and the White House had promoted in recent months....

 

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