Bill Introduced to Make Charitable Donations Deductible for Everyone
Rep. Danny Davis (D-Ill.) has introduced legislation aimed at raising the amount of charitable giving in America by adding a new incentive at tax time, which nonprofit leaders say is more important than ever as a consequence of the recent tax reform passed in 2017.
GOP Tax Plan Would Eliminate Adoption Tax Credit
The House Ways and Means Committee released details of the new Republican-led tax plan, which makes two significant changes that would lessen the benefits available to adoptive parents. The first change is a complete elimination of the Adoption Tax Credit (ATC), a one-time tax benefit available for parents who adopt from foster care, internationally and through private domestic adoptions.