IRS COVID-19 Benefit: How To Get Up To $600 Tax Deduction

If you make a cash donation to charity before the end of 2021, you can take advantage of expanded tax benefits approved under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This includes deductions up to $300 for individuals and $600 for married couples who gave cash donations to qualifying charities during 2021, the IRS said.

Normally, people who elect the standard deduction – 9 in 10 taxpayers, the IRS estimates – aren’t able to claim donations for an additional deduction. But under the CARES Act, contributions to charity through the end of the year will qualify taxpayers for more money back. The benefit applies only to cash donations made in 2021, and donations made to most charitable organizations qualify, according to the IRS.

Here are some examples of qualifying charitable contributions:

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Source: KXAN