Superior Tax Services LLC

For taxpayers who make charitable contributions, good news may be on the horizon. The Charitable Giving Tax Deduction Act was introduced to congress on May 11, 2018. The bipartisan bill would make charitable contibutions an above-the-line deduction, allowing taxpayers to deduct charitable deductions regardless of whether they decide to itemize. A consequence of the Tax Cut and Job Act of 2017, which nearly doubled the standard deduction, reduced the number of taxpayers who itemize their deductions, and therefore, lessened the tax incentive to donate to charitable organizations. This bill would not only bring back the incentive to those taxpayers, but to all taxpayers.

Tax season begins Jan. 29th this year and last day to file is April 17th.

The IRS will start accepting e-filed 2016 tax returns on Jan. 23, 2017