Permanent and Expanded Reinstatement of Partial Deduction for Charitable Contributions of Individuals Who Do Not Elect to Itemize
Section 70424 · Sec. 70424 ·
What this chapter is about
This part raises a charity deduction for people who do not itemize. It goes from $300 to $1,000, or $2,000 on a joint return. It also drops the words limiting it to 2021.
“Section 170(p) is amended-- (1) by striking "$300 ($600" and inserting "$1,000 ($2,000", and”
The section strikes the figures $300 and $600 in section 170(p) of the Internal Revenue Code of 1986 and inserts $1,000 and $2,000, and strikes the words beginning in 2021.
What the document actually says
“Section 170(p) is amended-- (1) by striking "$300 ($600" and inserting "$1,000 ($2,000", and”
That sentence, in plain words
The figures $300 and $600 are taken out. The figures $1,000 and $2,000 are put in.
What this is about
The larger figure is for a joint return. Words tying the rule to 2021 are also struck. So the deduction carries on.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall apply”Who acts: Secretary of the TreasuryHow: statuteSec. 70424 in the PDF
What the document says
“The amendments made by this section shall apply to taxable years beginning after December 31, 2025.”
The section applies its amendments to taxable years beginning after December 31, 2025.
What the document actually says
“The amendments made by this section shall apply to taxable years beginning after December 31, 2025.”
That sentence, in plain words
The changes start with tax years that begin after December 31, 2025.
What this is about
Earlier tax years are not touched. The old figures still hold for them. The date is fixed in the law.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Both things the section does: raise the two dollar figures and drop the year limit, and fix the effective date.
Nothing in the section is left out. It has two subsections and each is recorded.
The section works by amending section 170(p) of the Internal Revenue Code of 1986, which is not indexed here, so how the deduction is otherwise worked out cannot be checked against anything on this site.
