President Obama's Tax On Soup Kitchens
http://majorityleader.gov/blog/2011/09/president-obamas-tax-on-soup-kitchens.html
For those of you who operate tax-exempt, nonprofit corporation or associations that fall under the 501 C organizations, your tax exemption status may be at risk. Please keep up with the latest deficit reduction talks from Washington.Yesterday, it was announced that an astounding 1 in 6 Americans are living in poverty. President Obama's response? To demand a tax on donations to soup kitchens and other charities that help people desperately in need. The President's proposal will impact approximately 40% of all the tax deductible contributions, and essentially penalize soup kitchens, hospitals, and churches that provide essential services to those who need them most. It’s no wonder this tax hike has been rejected on both sides of the aisle.
501(c) organization
http://en.wikipedia.org/wiki/501(c)
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16-09-2011, 08:48 PM #1
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President Obama's Tax On Soup Kitchens
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