The $300.00 individual/$600.00 per couple charitable contribution deduction for non-intemizers is gone.
“All contributions are tax deductible” carries less meaning these days.
I realized just this week that I could have deducted $600 for charity, not just $300 but its all moot isn’t it....
Trumps tax law ended a lot of charities.
Keep in mind that her inclusion of the Covid charitable deduction is minor in the scheme of things. It goes on top of your standard deduction, lowering your taxable income.
If in the 10% tax bracket it saved you $30 or $60. In the 12% bracket? $36 or $72.
In the 22% bracket? Then it saves $66 or $132.
Not nothing but not exactly life changing.
The question still needs to be on what the feds do with our money ...