CARE Act Extended for 2021

 

‘You can still help cancer patients and caregivers by donating ‘now’ for 2021. Your donation of $300 per person or $600 per couple is available. We need your help more than ever as we continue our free cancer education and resource services ‘virtually’. You can contact us by phone.

Thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act – passed by Congress this spring – each family in the US is eligible for a one-time $300 charitable tax deduction.

Here’s how it works. If you give $300 this year to a qualifying 501(c)(3) nonprofit like Arizona Myeloma Network, AzMN, you can claim it as a deduction, even if you (like most American families) take the standard deduction.

For donors who itemize their deductions, the CARES Act temporarily lifts the deduction cap of annual gross income (AGI) to qualified charities like AzMN from 60% to 100%. This means that in some situations, you could actually pay zero income tax for the year.

 

P.S. Please note that we are not attorneys or financial planners. It is important to consult a trusted professional about all decisions related to taxes.
Arizona Myeloma Network (AzMN) is a 501(c)(3) nonprofit charity organization EIN 32-0169742