The Internal Revenue Service today reminded individual retirement arrangement (IRA) owners age 70½ or over that they can transfer up to $100,000 to charity tax-free each year.
Bogus charities are a perennial problem that gets bigger whenever a crisis or natural disaster strikes. Scammers set up these fake organizations to take advantage of the public’s generosity. They seek money and personal information, which can be used to further exploit victims through identity theft.
Fake Charities: Real Scams Read More »
Qualified Charitable Distributions Are Great Options for Making Tax-Free Gifts to Charity
RA Owners Age 70½ or Over: Qualified Charitable Distributions Read More »
The Internal Revenue Service reminds taxpayers that a special tax provision will allow more Americans to easily deduct up to $600 in donations to qualifying charities on their 2021 federal income tax return.
Special Tax Deduction Give Up to $600 to Charity Read More »
Deductions Up to $600 Available for Cash Donations by Non-Itemizers
Tax Benefits Help Individuals and Businesses Give to Charity Read More »
The Coronavirus Aid, Relief and Economic Security (CARES) Act, enacted last spring, includes four temporary tax changes that are designed to help people and businesses who give to charity this year. Here is a rundown of these key changes.
Tax Benefits Help Individuals and Businesses Give to Charity During 2020 Read More »
Whether taxpayers are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to them, their charitable donations may be tax-deductible. These deductions basically reduce the amount of their taxable income.
How the CARES Act Changes Charitable Contributions Read More »
The U.S. Department of the Treasury and the Internal Revenue Service issued final regulations that require taxpayers to reduce their charitable contribution deductions by the amount of any state or local tax credits they receive or expect to receive in return.
Charitable Contributions and State and Local Tax Credits Read More »
Want to check on an organization’s tax-exempt status? Try the IRS Tax Exempt Organization Search (TEOS) tool. [youtube https://www.youtube.com/watch?v=V4uD0htKKkk]
Your gift means a great deal – make sure it’s real Read More »