Number of US taxpayers claiming charitable deduction shows significant drop

The number of US tax payers claiming the charitable deduction has dropped significantly; from 31 million in 2017 to 11 million in 2018. Resulting from 2017 tax reform that expanded the standard deduction, leaving fewer itemizers, charitable deductions nationwide declined by $54 billion according to MarketWatch, "While we continue to advocate for important policy changes, such as the non-itemizer charitable deduction, we are working to continue to encourage and support charitable giving to New Hampshire's nonprofits," said NH Center for Nonprofits' CEO Kathleen Reardon. "In our latest NH Gives campaign 275 organizations raised $549,695 from 4,907 donors. It's critical that we continue to nurture the spirit of giving in the Granite State."

Post date: July 19, 2019
Topics: National News

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