On December 31, 2019, Cindy Lewin and Larry Norton published “The Winds of Change: Regulation, taxes and donors all in the danger zone” in The NonProfit Times.The following is an excerpt:
The impact of the Tax Cuts and Jobs Act (TCJA) enacted at the end of 2017 is just beginning to be felt. The TCJA increased the standard deduction so that many taxpayers no longer need to itemize their deductions. An estimated 21 million taxpayers no longer receive a tax benefit for their charitable contributions.