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Simplifying Taxes Blog

COVID-19 and Charitable Deduction Eligibility for your 2020 Tax Return

COVID-19 and Charitable Deduction Eligibility for your 2020 Tax Return

As part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, legislators made several temporary tax changes, including allowing tax filers to take advantage of a special $300 charitable deduction. According to the IRS news release, this charitable deduction is designed especially for people who take the standard deduction.

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Do I Have to Pay Taxes on My 2020 Stimulus Check?

Do I Have to Pay Taxes on My 2020 Stimulus Check?

During 2020, you may have qualified to receive an Economic Impact Payment (Payments) authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Beginning in April, Americans began to receive up to $1,200 per adult and $500 for each child under...

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Anna Lautenbach, CFP®, M.A. (Acct), M.A. (Mgmt), delivers the latest in news and knowledge to help with navigating the tax waters.