11/04/2021
The IRS released a year-end reminder yesterday for a special tax deduction that will apply through 2021. All tax payers taking the standard deduction can take a special deduction on their return for giving to qualifying charities, as an above-the-line deduction to get to your adjusted gross income. For 2021 the IRS has increased the maximum deduction for married filing joint filers to $600, and for married filing separate and individual filers, the maximum deduction is $300.
IR-2021-214, November 3, 2021 — The Internal Revenue Service today reminded taxpayers that a special tax provision will allow more Americans to easily deduct up to $600 in donations to qualifying charities on their 2021 federal income tax return.