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Ten Tips for Taxpayers Making Charitable Donations - IRS Summertime Tax Tip 2010-21

From IRS.gov : Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return. Here are the top 10 things the IRS wants every taxpayer to know before deducting charitable donations. 1. Charitable contributions must be made to qualified...

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 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 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...