Brief Extending the Charitable Deduction Deadline to Tax Day
C. Eugene Steuerle
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Extending the charitable deduction deadline is a move with precedent: the government has used it to encourage giving following a natural disaster. However, temporary laws have limited effect. Consider instead allowing charitable deductions made by April 15, aka tax day, to be applied to the previous year's tax returns. As in other facets of life, people are prone to making their decisions concerning giving at the last minute. If tax software companies such as TurboTax could show taxpayers how donating an extra $100 or $1,000 would lower their taxable income, this would be a powerful marketing tool for charities.
Research Areas Economic mobility and inequality Nonprofits and philanthropy Taxes and budgets
Tags Fiscal policy Nonprofit data and statistics Data and technology capacity of nonprofits Federal tax issues and reform proposals