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S 317119th CongressIntroduced
Charitable Act
Introduced: Oct 29, 2025
Economy & Taxes
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Charitable Act modifies and extends tax deductions for charitable contributions for non-itemizing individuals, adjusts penalty provisions, and applies to taxable years 2026-2027.
Key Points
- 1Amends the Internal Revenue Code to allow non-itemizing taxpayers a deduction up to one-third of the standard deduction for charitable contributions.
- 2Eliminates the penalty for tax understatements attributable to charitable contributions and revises related penalty sections.
- 3Effective for taxable years beginning after December 31, 2025, impacting tax filings and charitable donation incentives.
Impact Areas
Individual taxpayers who do not itemize deductionsNonprofit organizations reliant on charitable donationsIRS tax compliance and penalty enforcement processes
Generated by legislative-analysis-2023 on Nov 2, 2025