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Mercury is in retrograde

Feb 28, 2020

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In a year-end scramble, charities worry about the impact of new tax law

Renata Sago Jan 2, 2018
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 Legislation and regulation books related to the GOP's planned tax overhaul are stacked and ready in the House Ways and Means Committee hearing room in Washington, D.C. Chip Somodevilla/Getty Images

In a year-end scramble, charities worry about the impact of new tax law

Renata Sago Jan 2, 2018
 Legislation and regulation books related to the GOP's planned tax overhaul are stacked and ready in the House Ways and Means Committee hearing room in Washington, D.C. Chip Somodevilla/Getty Images
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Charities across the country are running the numbers to see how much money they brought in from their scramble for year-end donations. Many Americans had less of an incentive to give under the new tax law, which doubled the standard deduction. That means folks had to make even bigger donations to qualify for tax write-offs.

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