It has been said that nothing is certain in life except for death and taxes. And, according to a recent article in The Chronicle of Philanthropy, it seems we might be able to add no major reforms to U.S. tax law to that short list.
Everyone agrees that the tax code should be simpler and loophole-free. Yet, our legislators seem either unwilling to tackle broad reform or unable to reach consensus on how to achieve across-the-board simplicity and fairness. That’s bad news for everyone.
And it gets worse for the nonprofit fundraising world: Congress and President Obama are apparently willing to address business-related tax changes in the current session, which means nonprofits could face important changes relative to charitable deductions.
John Wanda, CCAH Principal, VP of Finance