{"id":7155,"date":"2020-12-18T15:08:43","date_gmt":"2020-12-18T20:08:43","guid":{"rendered":"https:\/\/alt-fw.org\/public\/?p=7155"},"modified":"2020-12-18T22:39:43","modified_gmt":"2020-12-19T03:39:43","slug":"7155","status":"publish","type":"post","link":"https:\/\/alt-fw.org\/public\/?p=7155","title":{"rendered":"Your donation to Adult Life Training this year\u00a0can be deducted EVEN IF you take the Standard Deduction"},"content":{"rendered":"

This just in via eMail from IRS Newswire <irs@service.govdelivery.com>:
\n\"\"<\/p>\n\n\n\n
IRS Newswire<\/td>\nDecember 18, 2020<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Issue Number: \u00a0\u00a0 IR-2020-278<\/h3>\n

<\/a>Inside This Issue<\/h3>\n

Year-end reminder: Expanded tax benefits help individuals and businesses give to charity during 2020<\/span><\/strong><\/p>\n

\n

WASHINGTON \u2013 The Internal Revenue Service today explained how expanded tax benefits can help both individuals and businesses give to charity before the end of this year.<\/span><\/p>\n

The Coronavirus Aid, Relief and Economic Security (CARES) Act, enacted last spring, includes four temporary tax changes that are designed to help people and businesses who give to charity this year. Here is a rundown of these key changes.<\/span><\/p>\n

New deduction for people who don\u2019t itemize<\/span><\/b><\/p>\n

Individuals who elect to take the standard deduction generally cannot claim a deduction for their charitable contributions. However, the CARES Act permits these individuals to claim a limited deduction on their 2020 federal income tax returns for cash contributions made to certain qualifying charitable organizations and still claim the standard deduction. Nearly nine in 10 taxpayers now take the standard deduction and could potentially qualify.<\/span><\/p>\n<\/div>\n

Under this change, these individuals can claim an \u201cabove-the-line\u201d deduction of up to $300 for cash contributions made to qualifying charities during 2020. The maximum above-the-line deduction is $150 for married individuals filing separate returns.
\n<\/span><\/div>\n
<\/div>\n
For more information see https:\/\/www.irs.gov\/newsroom\/year-end-reminder-expanded-tax-benefits-help-individuals-and-businesses-give-to-charity-during-2020<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Nearly nine in 10 taxpayers who take the standard deduction can also claim an \u201cabove-the-line\u201d deduction of up to $300 for cash contributions made to qualifying charities during 2020. The maximum above-the-line deduction is $150 for married individuals filing separate returns. The CARES Act includes temporary tax changes that are designed to help people and businesses who give to charity this year.<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[1624,1623,1537,1622,378,1626,1621,1627,849,799,1625,800],"class_list":["post-7155","post","type-post","status-publish","format-standard","hentry","category-announcement","tag-aid","tag-cares-act","tag-coronavirus","tag-deduction","tag-donation","tag-economic-security","tag-give","tag-give-to-charity","tag-internal-revenue-service","tag-irs","tag-relief","tag-tax"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"jetpack_shortlink":"https:\/\/wp.me\/s3sKnr-7155","_links":{"self":[{"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=\/wp\/v2\/posts\/7155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7155"}],"version-history":[{"count":8,"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=\/wp\/v2\/posts\/7155\/revisions"}],"predecessor-version":[{"id":7164,"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=\/wp\/v2\/posts\/7155\/revisions\/7164"}],"wp:attachment":[{"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alt-fw.org\/public\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}