The Tax Reform Act Of 1969 And The Development Of American Philanthropy

In the course of the United States in the development of charitable giving, tax policy has played an important role. Tax policy can encourage citizens to actively carry out charitable donations; be tax incentives for charitable donations; charitable organizations play a supervisory and regulatory role.1969 Tax Reform Act in US charitable giving is an important watershed in the history of the bill tightened restrictions on private foundations; prohibit donations of individuals or foundations of private profit; standardize the Foundation qualification and periodic review; property donated specific tax cuts to be limiting.The reason why the US Congress raised the tax reform, and the social background closely related to the tax reform before the American society, many under the guise of charity in the name but in fact is drilled loopholes in the tax law is widespread. Many high-income earners by the property donated to charitable organizations qualify for tax relief, which causes dissatisfaction with Congress and society. Causing Congress to discuss equity issues, valuation issues, problems and donate profits taxpayer morale issues and the relationship between government and charities to promote tax reform bill enacted and implemented.After the enactment of the Act, we encouraged taxpayers to donate warm, encouraging taxpayers to join the ranks of charitable donations in an equitable basis. However, because of restrictions on in-kind contributions, resulting in kind especially in art, literature donations drastically reduced, resulting in negative side effects. However, this negative impact in the history of charitable giving business point of view, pushing for further changes in the tax bill, which is more adapted to the development of philanthropy. Meanwhile, the bill regulates the behavior of various private foundations, private foundations push toward a more professional, more standardized direction.