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Added on the 13/08/2015 09:25:57 - Copyright : Reuters EN
The IRS estimates that nearly 90% of US taxpayers take the standard deduction instead of itemizing. Under the new tax code, not itemizing made it virtually impossible to claim a tax deduction for contributions to charitable organizations. But according to Business Insider, the pandemic relief CARES Act has a provision incentivizing Americans to help others in need. It's an above-the-line charitable tax deduction. Beginning with 2020 tax returns, taxpayers can claim up to $300 in cash contributions made by December 31 to charity as a deduction without itemizing. The IRS says roughly 130 million American taxpayers could benefit by donating, as it reduces their taxable income.
Several thousand people demonstrate in Paris against job cuts and for wage increases. This first demonstration of the post-holiday period, at the behest of France's biggest trade union the CGT, as well as Solidaires, FTUU and youth organisations (Fidl, MNL, Unef and UNL), began at Place de la République and heads towards Place de la Nation, led by a strong police presence. IMAGES
Dozens of employees, elected officials and trade unionists gather in front of the Renault plant in Choisy-le-Roi, on the outskirts of Paris, following the announcement of a savings plan of more than 2 billion euros and the elimination of 15,000 jobs worldwide. IMAGES
Twitter cuts nine percent of its global workforce to keep costs down even as quarterly results eclipse Wall Street's expectations. Jeanne Yurman reports.
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