Tax Law Restricts Write Offs for Charitable Giving

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Many tax payers may be preparing to file their holiday charitable donations but a new law may keep you from getting a tax deduction like usual.

According to the tax law, an individual’s deductions would need to exceed $12,000  instead of the original $6,300.

Married couples would need deductions exceeding $24,000. up from the previous $12,700.

Non-profits are already being affected by low funding.

President of the United Way NWA Kim Aaron said the state needs to step in to help local organizations.

“In some communities it’s a community council that does the fundraising and management of the 2-1-1 system. Maybe with some attention around the fact that we’re closing down someone in Little Rock recognizes that we need to do this at the state level,” said President of the United Way Northwest Arkansas, Kim Aaron.

The 2-1-1 line will operate until Monday, December 31.

After it closes Aaron said Arkansas will be the only state without a helpline.  

Citizens looking for help from others local organization are encouraged to use HARK. 

For more information click here.

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