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Submitted By: someone
Answered: March 17, 2023 2:47 am
Answered: March 17, 2023 2:47 am
Has Congress extended for 2022 the charitable contribution deduction for non-itemizers?
No. To date, Congress has not extended this tax break. However, there is considerable sentiment in Washington to do so. If there is an extension, it’s likely not to apply for 2022 returns, but monitor developments at jklasser.com.
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Tax Glossary
Accelerated depreciation
Depreciation methods that allow faster write-offs than straight-line rates in the earlier periods of the useful life of an asset. For example, in the first few years of recovery, MACRS allows a 200% double declining balance write-off, twice the straight-line rate.
