Tag Archives: CHARITABLE DONATIONS

IRS OFFERS TIPS TO SECURE YOUR DEDUCTION FOR YEAR-END CHARITABLE GIFTS

IRS has just published useful suggestions to help taxpayer’s secure allowable deductions for year-end charitable gifts.  IR 2012-102 is reproduced below. WASHINGTON — Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have … Continue reading

Posted in TAX, Uncategorized | Tagged , , , | Leave a comment

TAX COURT NOT CHARITABLE TO TAXPAYER IN UPHOLDING IRS DISALLOWANCE OF DEDUCTION FOR CASH CONTRIBUTIONS TO CHURCH WHEN TAX CODE CONDITIONS NOT STRICTLY FOLLOWED

 The Internal Revenue Code (Code) does not treat income and deductions equally.  Generally, all economic benefits received by a taxpayer, not a gift, are includible in one’s gross income under Section 61 unless specifically exempted by anther Code Section.  Contrariwise, when … Continue reading

Posted in COMPLIANCE, TAX, Uncategorized | Tagged , , , | Leave a comment