May 18, 2006

Charity Provisions Dropped From Tax Legislation

By Elizabeth Schwinn

TAX WATCH

As members of the House and Senate worked out a compromise tax measure last week, they dropped nearly every provision that charities and lawmakers had sought to cut down on abuses of charity tax laws and encourage charitable giving.

The negotiators said the charity provisions may be included in a different bill, meaning that it is possible they could become law this year.

The tax bill now contains just a single nonprofit provision:

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