Grave Injustice Parity Act

Key Points

• Congress is considering a bill that would allow people to deduct donations to non-profit cemeteries from their taxes. Currently, while donations to many charities are tax-deductible, gifts to cemeteries often do not qualify for the same federal tax benefits.
• The bill applies to both 'estate taxes' (money left behind when someone dies) and 'gift taxes' (money given while someone is alive). If passed, giving money or property to a qualified non-profit cemetery would reduce the amount of tax a person or their estate owes.
• To qualify for these tax breaks, the cemetery must be a non-profit company run only for its members or specifically for burial purposes. It cannot be a business that makes a profit for owners or shareholders.
• The policy also makes it easier for private foundations to support cemeteries. It allows these foundations to give money to non-profit cemeteries without facing the tax penalties that usually apply when they give to organizations that aren't standard charities.
• This change is intended to help cemeteries maintain their grounds, preserve historical sites, and stay in good repair by encouraging families and foundations to provide more financial support.

Impact Analysis

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