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Charitable Giving Data

July 13, 2022 4:04 AM | Anonymous

The congressional Joint Committee on Taxation estimates that, for the current 2022 taxable year, 88.5% of taxpayers (approximately 142.2 million taxpayers) will claim the standard deduction, which for 2022 will be $12,950/individuals and $25,900/couples. The remaining 11.5% of taxpayers (about 18.5 million taxpayers) will elect to itemize deductions. Among itemizers, JCT analysts expect 14.975 million to claim charitable deductions amounting to $219.452 billion. These projections assume no legislative fixes to reinstate and expand the universal charitable deduction being promoted by the nonprofit community.

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