Alexander Reid Quoted in Tax Notes Regarding Nonitemizer Charity Deduction

News / June 13, 2022

On June 13, 2022, Partner Alexander Reid was quoted in a Tax Notes report about a panel at the Not-for-Profit Industry Conference, presented by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA). In the article, “Congress May Prefer Cash to Charities over Nonitemizer Deduction,” Reid says, “There’s a sense that direct funding from the federal government to charity might provide more bang for the buck than the indirect mechanisms that we’ve been accustomed to, namely the charitable deduction.” The article also quoted two Congressional aides. Congress adopted the universal charitable deduction for nonitemizers in March 2020, then enhanced it at the end of 2020; it expired at the end of 2021.

Full article (subscription required)