Tax Deduction on Charitable Donations
- December 2, 2020
- Posted by: Hansen_Sweeney
- Category: News, Tax, US/UK
The IRS have reminded taxpayers, charitable donations up to $300 are tax deductible for their 2020 federal tax return even if they do not itemize.
The IRS commissioner Chuck Rettig claims:
The IRS reminds people there’s a new provision that allows for up to $300 in cash donations to qualifying organizations to be deducted from income. We encourage people to explore this option to help deserving tax-exempt organizations — and the people and causes they serve.