The Greater Give Responds to COVID-19 and the CARES Act
The recent Coronavirus Aid, Relief, and Economic Security (CARES) Act allows for two important changes to charitable giving for the 2020 tax year: the temporary partial Universal Charitable Deduction (UCD) and expansion of the limitations on larger giving. The Greater Give is supportive of any proposal or legislation that will encourage and expand charitable giving. We applaud changes made to foster a culture of giving back, especially in these chaotic and challenging times. While these temporary changes are a good first step, we also recognize that these provisions will only apply for this year and we need a lasting solution. We believe that common-sense legislation incentivizing employers to lean in and workers to set aside up to $2700 in pretax funds would be a better permanent improvement. The Everyday Philanthropist Act would be that solution!
For more information about the response to COVID19 and the CARES Act, please visit TASCResponds.com
The Greater Give is here to help make workplace giving programs easier for employers like you.
Everyday, working Americans should feel inspired to give back, and we believe that their employers should have the tools and resources to help them. Our aim is to help employers easily implement workplace giving initiatives that empower the Everyday Philanthropist®. We support businesses by educating employers on strategic philanthropy, advocating for changes in public policy, and connecting like-minded businesses.
The Everyday Philanthropist Act would allow…
- Millions more Americans to lower their taxes through charitable giving.
- Employers to empower their employees to give back while reducing payroll taxes.
- Charities to increase donations and impact communities in need.