Monday, February 25, 2019
Nearly all nonprofits work to build a strong base of individual donors – but in a troubling national trend, fewer American taxpayers are reporting itemized charitable deductions on their tax returns. This trend was already evident prior to the passage of the Tax Cuts and Jobs Act (which reduced itemizers by doubling the standard deduction) -- but the TCJA accelerated it. A new research brief from United Way states, “Particularly if the past association between giving and itemizing continues to hold under the new tax law, charitable giving may become increasingly concentrated among the wealthiest households.”