Assume that Congress amended the tax law to limit the itemized deduction for cash contributions to charity
Question:
Assume that Congress amended the tax law to limit the itemized deduction for cash contributions to charity to 5 percent (rather than 60 percent) of AGI. Discuss the incidence of the tax increase represented by this expansion of the tax base.
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This change in the tax law would increase the aftertax cost of charitable contributions ...View the full answer
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Related Book For 
Principles Of Taxation For Business And Investment Planning 2019 Edition
ISBN: 9781260161472
22nd Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
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