Before You Celebrate, Advocate!
Thanksgiving approaches, and you’re going to be pulled in all directions. Before you set up your automatic vacation email, take three minutes to tell the IRS the impact their proposed regulations could have on your organization, and urge Congress to restore giving incentives!
Gift Substantiation Proposed Regulation
Under new rules proposed by the US Department of Treasury and the Internal Revenue Service, nonprofits could be allowed to participate in a record-keeping system that asks for personal information like Social Security Numbers from donors who give more than $250. While the system is voluntary, the impacts could be twofold:
1. A voluntary option like this creates two systems, making the process of record keeping for donors, nonprofits and the IRS difficult to juggle. In fact, it might be too complex to keep both systems and it could eventually be mandatory for nonprofits to use the system that requires asking donors for their SSNs.
2. Donors are less likely to give if they are asked to provide information such as their Social Security Number. They will either donate amounts less than $250 to avoid giving their personal information, or will decide not to give at all. This system also adds security concerns and puts organizations at risk for being liable.
What can you do?
> Read and learn more! The National Council of Nonprofits has great information on these proposed regulations.
> Submit comments to the IRS! You have until Wed., Dec. 16 at 10:59 pm to tell the IRS what asking for your donors’ SSNs could do to your individual giving plan.
Charitable Giving Tax Incentives
Three charitable giving tax incentives critical to the nonprofit sector have been expired since early 2015. Please join us in urging Congress to act immediately to restore these three provisions that are so important to our communities and the people we serve!
2. Enhanced deductions for the donation of food inventory
3. Enhanced deductions for land conservation easements
What can you do?
> Take action! Independent Sector has great resources to help you advocate.
> Tell your colleagues to make their voices heard this holiday season!
Please contact me with any questions or concerns. And, happy Thanksgiving from Forefront!
— Alison Leipsiger, Policy and Advocacy Manager
aleipsiger@myforefront.org
312-327-8912