Tax issues and developments relating to charitable contributions
President Trump changed his mind and signed The Consolidated Appropriations Act, 2021 on December 27, 2020. The Act is more than 5,000 pages. There were not very many tax law changes in the Consolidated Appropriations Act compared to the CARES Act enacted during March 2020. Here are a few highlights
The Joint Committee on Taxation has issued a description of the tax provisions in the CARES Act.
Here is a URL to download the report. https://www.jct.gov/publications.html?func=startdown&id=5256
This week's interview on Financial Insider Weekly is with attorney Raymond Sheffield of the Sheffield Law Office. Our interview subject is "Charitable Remainder Trusts."
Taxpayers can choose whether to deduct certain donations paid in 2010 to US Charities for Haiti earthquake relief on their 2009 or 2010 income tax returns.
