To encourage charitable giving during the COVID-19 pandemic, lawmakers made several changes to the tax code in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was signed into law in March 2020, many of which were set to expire on December 31, 2020. However, on December 21, 2020, Congress passed the next round of its COVID-19 Emergency Relief Package. This bill extended and modified several of these tax-saving provisions.
Click below to read more about these provisions that are now in effect through December 2021.
This information is provided courtesy of our friends at ECFA.