LeadingAge last week voiced its support for the Charities Helping Americans Regularly Throughout the Year (CHARITY) Act by joining together with 46 other nonprofits in a letter praising the sponsors of the CHARITY Act and underscoring the critical nature that charitable donations play in furthering the mission of nonprofits.
The CHARITY ACT would encourage charitable giving and make it easier for foundations and other tax-exempt organizations to fulfill their missions.
Introduced by Sens. John Thune (R-SD) and Ron Wyden (D-OR) earlier this month, the CHARITY Act builds on several charitable tax provisions signed into law late last year, including one that makes permanent a provision allowing taxpayers who are at least 70-and-a-half years old to make charitable donations directly from their IRAs.
The bill also includes “sense of the Senate” language aimed at promoting charitable giving in any future efforts to achieve comprehensive tax reform.
View the press release with links to the legislative language of the CHARITY Act and a summary of the bill.
You can also view the letter signed by LeadingAge in support of the bill.