Charitable Act

12/15/2023, 4:06 PM

Charitable Act

This bill allows individual taxpayers who do not otherwise itemize their tax deductions a deduction in taxable years beginning in 2023 or 2024 for charitable contributions. The deduction is limited to one-third of the standard deduction allowed to such taxpayers.

Congress
118
Number
S - 566
Introduced on
2023-02-28
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/28/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Charitable Act

This bill allows individual taxpayers who do not otherwise itemize their tax deductions a deduction in taxable years beginning in 2023 or 2024 for charitable contributions. The deduction is limited to one-third of the standard deduction allowed to such taxpayers.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions.
Policy Areas
Taxation

Comments

Related

Bill Update Alert:  Charitable Act

Recent Activity

Latest Summary3/21/2023

Charitable Act

This bill allows individual taxpayers who do not otherwise itemize their tax deductions a deduction in taxable years beginning in 2023 or 2024 for charitable contributions. The deduction is limited to one-th...

Latest Action2/28/2023
Read twice and referred to the Committee on Finance.