Each year, the Internal Revenue Service (IRS) adjusts charitable gift rules, tax tables, personal exemptions, standard deductions and other tax provisions. Here are the key charitable figures for 2024 from Rev. Proc. 2023-34, 2023-48 IRB 1287 (Nov. 24, 2023).

Charitable Deductions Not Reduced for Insubstantial Donor Benefits: 2024 Safe Harbors

Donors needn’t reduce their charitable deductions when they receive low-cost articles or items of “insubstantial value” under Rev. Proc. 90-12, 1990-1 CB 471 and successor rulings. Reg. §1.170A-13(f)(8).