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How the CARES Act changes deducting charitable contributions

COVID Tax Tip 2020-153, November 12, 2020 Whether taxpayers are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that's personally meaningful to them, their charitable donations may be tax deductible. These deductions basically reduce the amount of their taxable income.

Though the IRS has not yet posted an updated version of the above article on its website, the $300 charitable deduction for non-itemizers has been renewed for 2021, and expanded to $600 for married couples filing jointly.

Family Renew Community is a 501(c)3 charity, TAX ID #59-2971766.