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The changes to tax laws in 2026, including new rules for charitable deductions and non-itemizers.
may deduct charitable gifts on Schedule A but must meet substantiation rules: small cash gifts generally can be claimed without a charity’s written receipt, noncash gifts have lower thresholds for ext...
The headline tax-law shifts that matter for charitable giving stem from the One Big Beautiful Bill Act (OBBBA): it creates an above‑the‑line charitable deduction for many non‑itemizers beginning in ta...
The ’s Notice 2025-69 lays out transition-year rules allowing taxpayers—including independent contractors—to substantiate and claim the new qualified tips and qualified overtime deductions for tax yea...
The short answer: some federal tax changes that take effect for (returns filed in 2027) will affect older taxpayers — including a new, temporary enhanced “senior” deduction — but whether a senior who ...
For the , married taxpayers filing jointly who itemize can deduct charitable donations on Schedule A, but the requires documentation: cash gifts under $250 may be substantiated with bank records or ca...
The largely preserves traditional AGI‑based caps on charitable deductions (notably the permanent 60% limit for cash gifts to public charities) while making 2025 a strategic year to accelerate giving a...
When a qualified charity pays off a homeowner’s mortgage, the immediate tax headlines focus on donors and charities — how the gift is treated for deduction purposes and how new change the calculus — b...
For single filers making deductible gifts to a (DAF) in 2025, cash gifts are deductible up to 60% of adjusted gross income (AGI) and appreciated long‑term noncash gifts generally up to 30% of AGI; any...
Recent guidance through FAQs, publications and the agency’s 2025–2026 priorities has reaffirmed that 501(c) charities may run and get-out-the-vote drives so long as those activities are strictly nonpa...
The interaction of three major tax-law changes — pre‑2018 carryback rules, the limit on carrybacks and 80% offset, and the ’s temporary, retroactive restoration of five‑year carrybacks for 2018–2020 —...
The historically enforced the , which bars 501(c) charities and churches from participating in political campaign activity on behalf of or in opposition to any candidate for public office . In 2025 th...
The long‑term capital gains and qualified dividend tax rates for the 2025 tax year are tiered at 0%, 15% and 20%; the taxable‑income cutoffs that determine which rate applies depend on filing status a...
Tax law lets taxpayers deduct gambling losses only if they itemize and keep contemporaneous, supporting records; the IRS explicitly requires an “accurate diary or similar record” plus receipts, ticket...
There are no statistics in the provided reporting that measure how many U.S. workers changed their federal withholding status to “exempt” in 2025 in reaction to government actions; the corpus describe...