<VV> Corvair Preservation Foundation & Special IRS Tax Treatment

[Allan Lacki]

Rod Murray of the Western Pennsylvania Corvair Club sent usthis reminder…  There are still a fewdays left for folks to make a special tax-deductible end of year donation tothe Corvair Preservation Foundation, a 501(c)(3) organization!  The drop dead date is December 31, so you’llneed to hurry.  You can read all about ithere: https://tinyurl.com/y7zau2rq What makes this so “special”?  The Coronavirus Aid, Relief and EconomicSecurity (CARES) Act, enacted last spring, includes several temporary taxchanges helping charities, including the special $300 deduction designedespecially for people who choose to take the standard deduction, rather thanitemizing their deductions.   Under this new change, individual taxpayers can claim an"above-the-line" deduction of up to $300 for cash donations made tocharity during 2020. This means the deduction lowers both adjusted gross incomeand taxable income – translating into tax savings for those making donations toqualifying tax-exempt organizations. You can donate to the Corvair Preservation Foundation on theCORSA website at www.corvair.org, bycalling Paul Bergstrom at the CORSA / CPF office at (630) 403-5010, or by mailingyour check to:
Corvair Preservation FoundationP.O. Box 68Long Lake, Minnesota USA 55356