Tax Prices and Charitable Giving: Projected Changes in Donations Under the 2017 TCJA
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Date
2020-02-25
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Private Enterprise Research Center, Texas A&M University
Abstract
The Tax Cut and Jobs Act of 2017 made significant changes to the rate structure of the Internal Revenue Code of the United States, including the near-doubling of the standard deduction. Many taxpayers who normally itemize their tax returns and deduct the amount given to charitable institutions are expected to switch to using the standard deduction. In working paper 1917, PERC’s G.R. Jordan Professor Jonathan Meer, along with co-author Benjamin Priday, investigate the Act’s effects on charitable giving using data from the Panel Study of Income Dynamics.
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Labor
Keywords
PERCspectives on Research, charitable giving, Tax Cuts and Jobs Act