Nonprofits Ask For Sector-Specific Coronavirus Tax Relief

The next round of coronavirus relief from the federal government should include a targeted loan program and tax credits for nonprofits to help the tax-exempt sector recover from the economic downturn, a group of nonprofits said in a letter.

Congress and President Joe Biden should craft relief specifically for nonprofits, as the sector has suffered from severe job losses while the need for its services rises, the National Council of Nonprofits and other groups said in a letter dated Friday. This relief should include a loan program and refundable tax credits that would help charities keep workers on payroll, according to the letter.

Further encouraging charitable giving by increasing the limit on tax deductions for donations to nonprofits would also help the sector continue to help the public weather the pandemic, the letter said.

--Editing by Vincent Sherry. 

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