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DATA POINT
$48.1
billion
Individual noncash charitable contributions reported to the IRS in tax year 2005.
Source: “Individual Noncash Contributions, 2005,” www.irs.gov/pub/irs-soi/05incontribul.pdf.
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
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