2,000 Groups Target Expiring Tax Exemptions
September 14, 2015 The NonProfit Times
More than 2,000 organizations – including nonprofits, corporations and national associations – sent a letter to Congress yesterday, urging elected officials to renew expiring tax incentives.
The letter urged Congress to “act immediately on a seamless, multiyear or permanent extension of expired and expiring tax provisions” related to charitable giving and other concerns. The failure to act would “inject instability and uncertainty into the economy” and undercuts the ability of nonprofits to service people and communities in need.
The letter is but four paragraphs long but goes on for another 19 pages, listing the organizations that have signed on to it. Among the charities listed were the American Heart Association, Feeding America, Easter Seals and the Land Trust Alliance. Other signees included Wal-Mart Stores, Coca-Cola and Boeing Company, among others.
Charitable tax incentives expired Jan. 1 after being renewed – retroactively for 2014 — in December, essentially making them meaningless for charities. Nonprofits fear another similar delay in extending the provisions this year would do the same.