Non-Itemizer Charitable Deduction Bill Introduced in House

Rep. Mark Walker (R-NC) introduced a bill in the US House last week that would create a charitable giving deduction for taxpayers who take the standard deduction and do not itemize on their federal income tax forms. The bill, the Universal Charitable Giving Act (HR 3988), would allow taxpayers who take the standard deduction to deduct up to one-third of the amount of the standard deduction. Under current law, that would amount to a deduction of up to $2,100/individual and $2,400/couple. If Congress nearly doubles the standard deduction, as proposed in the unified tax reform framework released last month, then the non-itemizer deduction would rise to $4,000/individual and $8,000/couple. In a summary of the bill, Rep. Walker asserts that the measure “protects giving for marginal itemizers, those affected by a larger standard deduction” and “protects social policy goals – empowers taxpayers to direct funds to socially productive organizations.”

Post date: October 11, 2017
Topics: National Legislative Updates

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