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New rules for deducting charitable contributions from taxes

This act changes how citizens can deduct charitable contributions from their income. It allows charitable donations to be deducted directly from gross income, which may lower the amount of tax owed. These changes apply to tax years beginning after December 31, 2020.
Key points
Allows charitable contributions to be deducted directly from gross income, potentially reducing taxes.
The change applies to donations made after December 31, 2020.
Simplifies the process of deducting charitable contributions for taxpayers.
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Additional Information
Charitable Giving Tax Deduction Act
Print number: HR 1081
Sponsor: Rep. Smith, Christopher H. [R-NJ-4]
Process start date: 2021-02-15