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The IRS reminds taxpayers there are things they should do before the current tax year ends on December 31.
Donate to charity
Taxpayers may be able to deduct donations to tax-exempt organizations on their tax return. As people are deciding where to make their donations, the IRS has a tool that may help. Tax Exempt Organization Search on IRS.gov allows users to search for charities. It provides information about an organization’s federal tax status and filings.
The law now permits taxpayers to claim a limited deduction on their 2021 federal income tax returns for cash contributions they made to certain qualifying charitable organizations even if they don’t itemize their deductions. Taxpayers, including married individuals filing separate returns, can claim a deduction of up to $300 for cash contributions to qualifying charities during 2021. The maximum deduction is $600 for married individuals filing joint returns.
Most cash donations made to charity qualify for the deduction. However, there are some exceptions. Cash contributions include those made by check, credit card, or debit card as well as unreimbursed out-of-pocket expenses in connection with volunteer services to a qualifying charitable organization.
Check Individual Taxpayer Identification Number (ITIN)
An ITIN only needs to be renewed if it has expired and is needed on a U.S….