In a special edition of IRS Tax Tips released on Monday, the IRS highlights some important rules to be aware of for individuals claiming charitable gift deductions. The tips include how to determine if the charity is a qualified charity for deduction purposes, rules for both monetary and household goods donations, and a reminder to get an acknowledgement statement from the charity as well as other record keeping requirements.
See Jiaqi Wang, IRS Issued Special Edition of Tax Tip for Charitable Gifts, Wealth Strategies Journal, Nov. 19, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
