United Way of Lowndes & Noxubee COVID19 Relief Funds
Contrary to what you may have seen on FACEBOOK our community current does NOT have relief funds available. WE MUST raise our own funds!
The recently passed CARES Act creates a $300 "non-itemizer" deduction for 2020. This deduction:
• is in full effect as of Friday and will apply to donations made for all of 2020
• is only for people who do not itemize their taxes
• is only for cash donations (not in-kind)
• can be used by the charity for any purpose (not limited to COVID-19 relief efforts)
This means that if you take the standard deduction when filing your 2020 tax return, you can also deduct up to $300 in charitable giving on top of that. This deduction applies to your regular United Way donation and any additional giving you may do this year.
Donors who itemize their taxes are still eligible for the existing charitable deduction. The CARES Act also lifts the cap on annual contributions for those who itemize, raising it from 60 percent of adjusted gross income to 100 percent.
Donating to the United Way of Lowndes & Noxubee COVID-19 Relief Funds is a great way to take advantage of this extra tax benefit while also helping your neighbors in need!
Click Here or the hyperlink above for more details.