Federal Aid Enactment

The federal Coronavirus Aid, Relief and Economic Security (CARES) Act, the largest aid package ever considered by Congress, has passed the Senate and House and has been signed into law. It includes important provisions for nonprofits and small businesses:

• Temporary Universal Charitable Deduction – There will be a universal charitable deduction for calendar 2020 – capped at $300 – open to all taxpayers, regardless of income.

https://www.philanthropy.com/article/How-the-New-300/248523