Article Bloomberg

Billionaires Urge Tax Reform to Free $1 Trillion for Charity

A coalition of billionaires, academics and large foundations says the U.S. could unlock far more money for charity just by tweaking a few tax rules.

Wealthy contributors get big tax breaks for donations even if the money then languishes in foundations or other vehicles for decades without reaching charities.

Read more: https://www.bloomberg.com/news/articles/2020-12-01/billionaires-urge-tax-reform-to-unlock-1-1-trillion-for-charity