Ebene News – US – New tax change is a win-win solution for taxpayers and charities

Little-known tax change can help you keep more money in the bank while helping your favorite charity The CARES law, which was enacted last spring, allows you to deduct a donation in cash without having to itemize your taxes 2020 Under this special tax provision, you can request a donation of up to $ 300 even if you take the standard deduction

“Our nation’s charities are struggling to help those suffering from COVID-19, and many deserving organizations can use whatever help they can get,” said IRS Commissioner Chuck Rettig

The Mary’s Center provides health care, education and other social services to thousands of people in the DC Region Like many other charities, the Mary’s Center continues to serve people in the need despite the drop in their donations This new tax provision is therefore a welcome boost

“We really embraced it and thought it was fantastic,” said Heather Morgan, general manager of Mary’s Center “It’s a way for people who don’t have large auction donations , who do not detail their deductions, but may feel like they have an added benefit for what they do for charity “

Tax Deduction, Internal Revenue Service, Finance

Ebene News – United States – New tax change is a win-win solution for taxpayers and charities

Source: https://www.nbcwashington.com/news/consumer/new-tax-change-is-a-win-win-for-taxpayers-and-charities/2523729/