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Charitable Contribution Tax Tips

As the year draws to a close, many taxpayers consider making charitable contributions. The Internal Revenue Service recently issued a Tax Tip outlining the top ten things it wants taxpayers to know before deducting charitable contributions. Charitable contributions must be made to qualified organizations...

Charitable Giving Tips for the Holidays

The holiday season coincides with the end of the tax year; therefore, many charities are asking for contributions. A recent Wall Street Journal article highlights some mistakes that people make when donating to charities during the holidays and suggests how to avoid them. Giving on impulse can cause...

Charitable Contributions: Did Your Favorite Non-Profit Just Lose its Tax Exempt Status?

Non-profits are formed all the time to advance a purpose to better the world or support a cause. While the philanthropic goals are wonderful. the record-keeping behind them is often spotty or non-existent. The result of bad record keeping? The IRS has just revoked the tax exempt status of 275,000 charities...

Charitable Contributions and Transferred Water Rights

An Interpretation of the Internal Revenue Code and Treasury Regulations Supporting the Tax Deductibility of the Voluntary Charitable Contribution in Perpetuity of a Partial Interest in an Appropriative or Riparian Water Right Transferred Instream for Conservation Purposes (with an Emphasis on California...

Charitable Contributions of Water Rights and Tax Deductions

I. Introduction: Open Questions in Federal Tax Law Can the voluntary charitable contribution of an entire or partial interest in either an appropriative or riparian water right be permanently transferred instream for beneficial conservation purposes and receive federal income or estate tax deductions...

Defending the Charity "Loophole": How Criticism of Congressional Charities Falls Short

By Luke R. Entelis J.D., Georgetown University Law Center (expected May 2012); B.A., The University of Michigan (2005). Excerpt from Defending the Charity "Loophole": How Criticism of Congressional Charities Falls Short, 24 Geo. J. Legal Ethics 535 INTRODUCTION Ideological polarization...

Charitable Giving is on the Rise, Even During Slow Economic Times

A recent report from the Giving USA Foundation and the Center on Philanthropy at Indiana University shows that charitable giving nationwide rose 3.8% in 2010. This increase comes after two years of steep declines. The study estimates that donations from all sources, including individuals and businesses...

Substantiating Charitable Deductions

Taxpayers who claim income tax deductions for charitable contributions must request and obtain the written acknowledgement from the charity that the contribution was made. It is due by April 17, 2012, the time the income tax return is filed. Failure to have the required substantiation from the charity...

First Circuit Reverses Tax Court on Deductability of Facade Easement

As reported by Forbes , the First Circuit recently reversed the Tax Court's decision to disallow a charitable deduction for a facade easement under 26 U.S.C.S. § 170(h) . The Tax Court, in denying the deduction, relied on 26 C.F.R. § 1.170A-14(g) , which establishes further substantive...