The IRS says time is running out to take advantage of a charitable tax benefit. “There’s a special rule this year that allows people to get a deduction of up to $300 per person, $600 for married couples, if you make a donation to charity, even if you don’t normally itemize your deductions,” says IRS spokesman Christopher Miller.
This temporary law creates tax-favorable donation options not normally available to about 90 percent of tax filers. Miller says you need to make a cash donation to a qualifying local or national charity by the end of the year. “You can also take advantage of unreimbursed expenses that you’ve given volunteering for a charity and mark it on your federal tax return.”
The IRS says the pandemic has created unique challenges for tax-exempt organizations, and they want to make sure people don’t overlook this special tax deduction that’s available this year.
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