Continuation and Expansion of the CARES Act

In late 2020, the US enacted a second stimulus package in response to the COVID-19 pandemic, extending many of the charitable giving guidelines from the original CARES Act signed into law last Spring. As in the CARES Act, some of the charitable giving provisions specifically exclude contributions to donor-advised funds. 

For those who itemize their deductions:

Donors who itemize can now give more cash to nonprofit organizations before reaching their adjusted gross income (AGI) limitation. Formerly set at 60%, the limitation for cash contributions to certain public charities has now been raised to 100% of an individual’s AGI for both 2020 and 2021. Any giving above this 100% limitation may be carried over and used in the next five years.
 
This does specifically exclude giving to private foundations and supporting organizations, along with any contributions made to establish or maintain donor-advised funds (DAFs) like those held at Stonewall.
 
This means that Fund Partners who exhaust the 60% limit with cash contributions to their DAFs in 2020 or 2021 can still make any additional donations outside their DAF and have those donations qualify for a deduction (up until reaching the 100% limit). Please consult a tax advisor to discuss your specific circumstances.

For those who itemize their deductions:

The stimulus package extends through 2021 the CARES Act's allowance for up to $300 of a taxpayer's charitable contributions to qualify as an above-the-line deduction. It increases the amount to $600 for married couples filing joint returns. (This means you don't have to itemize deductions in order to claim the $300 or $600 as a deduction). Qualifying donations must be made in cash or cash equivalents (as opposed to stock, for example) and cannot be directed to supporting organizations or DAFs. 

Here's a link to an article in The Tax Adviser discussing the CARES Act.