• Saturday, February 11, 2012

Previous

Next

Foundations Press Congress to Keep Estate Tax

November 11, 2009, 2:36 pm

Charities and foundations are lobbying Congress to maintain the estate tax at current levels, reports Dow Jones Newswires.

Nonprofit coalitions such as Independent Sector and the Council on Foundations are urging members to press lawmakers to keep the 45-percent rate and $3.5-million exemption. Because charitable bequests lower the taxable value of estates, a higher tax rate provides an incentive to make such gifts.

Tax changes passed at the start of the decade call for the estate levy to be suspended in 2010 and reinstated the following year. Several competing proposals on the future of the tax are now before Congress, but lawmakers are expected to approve keeping the tax in place next year.

(A paid subscription is required to view this article on The Wall Street Journal Web site.

This entry was posted in Giving, Managing. Bookmark the permalink.
  • Print
  • Comment

Comments are closed.