Itemized deductions, including charitable deductions, will be capped for high-earning taxpayers in Colorado starting next year. The Colorado Nonprofit Association (CNA) estimates the reduction in giving to charitable organizations could approach $100 million.
The U.S. Supreme Court recently heard oral arguments in a key donor disclosure case that’s made its way through the California courts during the past decade.
Nonprofits that are newly eligible for the second draw of the Paycheck Protection Program (PPP) will have an additional two months to apply for the relief funds.
President Joe Biden is expected to sign a $1.9-trillion coronavirus relief package on Friday that includes billions for nonprofits after the House of Representatives passed it Wednesday (March 10).
Nonprofits can claim a few victories in COVID relief legislation approved by Congress last month, including a universal charitable deduction extending into 2021, in addition to some $320 billion available in various funding vehicles.
The summary of the plan runs 19 pages but is thin on details for nonprofits, according to David L. Thompson, vice president of public policy at the National Council of Nonprofits in Washington, D.C. Nonprofits ...
Many nonprofits continue to fight for survival as COVID-19 drags on
Some nonprofits are fighting for survival due to increased government restrictions and decreased donor funds, while others are being crowded out altogether by government assistance programs.
Politically active tax-exempt organizations no longer have to file information about their top donors to the Internal Revenue Service (IRS) under a rule change finalized last week by the Department of Treasury and IRS.
Leaders at the nation’s most influential nonprofits are pushing members of Congress to expand aid to the tax-exempt sector in any and all legislation that expands and builds on the Coronavirus Aid, Relief, and Economic ...
