Special tax deduction this year for up to $300 of cash donations to charities! (US)

by 555VS66

The Cares Act allows a special $300 deduction for qualifying donations made in 2020. This means that unlike in previous years, you will not be taxed on up to $300 of your donation. Just remember to keep your receipt/acknowledgement letter in case the IRS asks.

To prevent fraud, make sure your “charity” is eligible as classified by the IRS. You can verify them here.

I thought I’d share this relevant news to the majority of Americans and help the IRS promote this before the year ends.

Spread the word! Thanks for reading.