'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
Charities and nonprofit organizations are worried that new limits on tax deductions for high earners will hurt donations just as charitable giving is starting to rebound from the depths of the recession.
"The charitable deduction incentive is different than any other deduction or credit in the tax code," said Sandra Swirski, executive director of the Alliance for Charitable Reform, which lobbies on behalf of donors and private foundations.
The deduction encourages people to give away income, while other deductions and credits encourage people to buy things they can then write off, she noted.