Tax deduction deadline for charitable donations approaching

GREENVILLE, N.C. (WITN) – The deadline to donate to charities and claim contributions on taxes is approaching.

The deadline to give to charities and still claim those donations on 2021 tax returns is Dec. 31st.

Greenville accountant Karen Spruill says the pandemic led to some tax law changes that are allowing individuals and couples to claim more this year than in the past.

The Internal Revenue Service is allowing individuals to deduct up to $300 in financial contributions to qualified charities on top of the standard deduction. Couples filing jointly can claim up to $600 above the standard deduction as well.

Spruill says those changes will likely go away for 2022 so it’s important to make donations before the end of the year.

People can still donate items to organizations, but only financial contributions will see the new benefit.

Spruill says it’s important to keep good records and to see a tax professional if anyone has questions.

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