Are fewer taxpayers deducting charitable contributions than prior to now?
Sure. The 2017 tax overhaul dramatically lowered the variety of filers deducting charitable donations. Whereas it didn’t restrict them outright, it expanded the usual deduction in order that far fewer taxpayers itemize these deductions on Schedule A.
The variety of taxpayers itemizing charitable donations dropped to about 12 million in 2021 from about 37 million in 2017, based on the latest information from the Inside Income Service. In the course of the pandemic, Congress briefly expanded tax deductions for very giant and really small charitable donations, however these modifications expired on the finish of 2021.
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