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Giving Tuesday includes tax write-off

Posted at 12:54 PM, Dec 01, 2020
and last updated 2020-12-01 12:54:21-05

LANSING, Mich. — The CARES Act Congress passed earlier this year includes a $300 tax deduction for eligible donations. Deductions do not have to be itemized in order to claim the deduction.

Many companies,including Meijer, are encouraging people to give today by matching donations.

“It’s not motivation to give. It’s what gives people the ability to give more,” said Rick Cohen, spokesman and chief operating officer for the National Council of Nonprofits. “Right now, every dollar counts. It doesn’t matter if it’s $300, $3 dollars or $30,000. Nonprofits need every penny right now.”

The website lets shoppers search for companies that match employees’ contributions.

In 2018, about 14.8 million households took a tax break for donating to charity, according to the IRS. You can find out if your donations qualify for a deduction on the IRS website.

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