COVID-19
The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed on March 27, 2020 made several changes to tax law. One important change relates to increasing an individual’s eligibility to deduct charitable contributions to encourage giving to nonprofits during the pandemic. This report gives a summary of the changes to charitable contribution deduction rules for non-itemizers (taxpayers using the standard deduction) and itemizers.
Environment
Detroit