What Irs Form 13844 Charities 2025

Joined here by Liddy McCoy who is vice president of the Colorado Nonprofit Association. Your organization is opposing the Republican tax plan that's going through Congress because you think it'll reduce charitable giving. Why? So, the tax reform bills both in the House and the Senate almost double the standard deduction. This has the effect of limiting people's ability to access the charitable deduction. Currently, about a third of all taxpayers are itemized, which allows them to put in their charitable deductions. The result of this bill would limit it to about 5% of total taxpayers that would have access to the charitable deduction. Our fear, based on research and studies that are out now, is that the bill will have a chilling effect on people's choice of how much they give to charities. But if people have the choice of what to do with more of their money, either to spend it, save it, or donate, why is that a bad thing? So choice is not a bad thing. At the Colorado Nonprofit Association, our main concern is the health of the nonprofit sector. 72% of all charitable gifts are from individuals, and we know from our research that the tax incentive is a part of that decision-making process. In 2014, our giving study at the Colorado Nonprofit Association showed that donors across Colorado say about 50% of them are considering the tax incentives when deciding how much to give to charities. That number increases to 75% when it's people with incomes over $100,000. So that's a pretty big chunk of people that are considering what the tax incentive would be when they're making their decision of how much to invest in the nonprofit. Let's talk about the folks that some would describe as wealthy. You describe folks above...