![]() 31, 2019, and before July 15, 2020, to be treated as made in calendar year 2019. 4032 would also allow contributions made under this provision after Dec. 5293, both of which would provide a deduction of up to one-third the amount of the taxpayer's standard deduction (i.e., for tax year 2020, $4,133 for single individuals and $8,267 for married individuals filing jointly). 4032, and a companion bill, the Universal Charitable Giving Act of 2019, H.R. These include the currently pending Universal Giving Pandemic Response Act, S. Since then, Congress has introduced bills on multiple occasions to reestablish a charitable contribution deduction for nonitemizers or provide a larger one than the CARES Act's. Although the amount of the deduction was generally limited to 25% of up to $100 in contributions (i.e., $25) for tax years 19, it climbed to 100% of up to $3, after which it sunset. 170(i), before deletion by the Omnibus Budget Reconciliation Act of 1990, P.L. 97-34, allowed a charitable contribution deduction from AGI for nonitemizing taxpayers (Sec. The Economic Recovery Tax Act of 1981, P.L. Section 2204 of the CARES Act permits eligible individuals who do not itemize deductions to deduct $300 of qualified charitable contributions as an "above-the-line" deduction, i.e., as an adjustment in determining adjusted gross income (AGI), for tax years beginning in 2020.Īllowing nonitemizers to deduct charitable contributions is not a new concept. 116-136, intended to provide some relief for charitable organizations. In response, Congress included a provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. However, many of these organizations are now experiencing a decline in giving as the United States finds itself grappling with a public health crisis. Charitable contributions flowing from these taxpayers enable many churches, youth sports charities, and other not-for-profits to fulfill their charitable missions. Residents of the United States are frequently ranked as among the most generous in the world ( Charities Aid Foundation World Giving Index, October 2019). ![]()
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