The Foraker Group

Posted Under: Government

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Unlike other tax incentives-for buying a home, installing energy-efficient windows, or buying a fuel-efficient car-the charitable deduction is unique in that it rewards behavior that, by definition, provides no direct benefit to the individual. Whatever options are on the table for tax reform, the tax code should continue to encourage the selfless act of giving to charity.

In an ideal world, changes would both increase charitable giving and save the government money. A new study from the Congressional Budget Office (CBO), examines 11 ways that changes in the tax code could impact individual charitable giving and evaluates what each would mean for federal tax revenue. Read more-