Even if you aren’t itemizing your deductions for 2020, the CARES Act will allow you to deduct $300 of cash contributions to charities when you file your tax return in 2021.
All in Tax
COVID-19 Weekly Digest (November 11, 2020)
The IRS is warning about a new text scam that tricks people into revealing their banking information under the guise of receiving a stimulus payment.
COVID-19 Weekly Digest (August 05, 2020)
It’s no surprise to most Americans that the U.S. economy has suffered greatly from the impact of the COVID-19 pandemic. But what may surprise you is the extent of the decline: a record 32.9% contraction during the second quarter of 2020, the biggest drop since 1947. The virus is still spreading across much of the country, and for 19 straight weeks, more than 1 million people have submitted new claims for unemployment benefits.