Senate Passes Charity Relief Legislation
Bill faces some opposition from House leadership.
Charitable Contributions
IRS Ruling Provides Helpful Guidance for Designated Gifts
Clarification provided for gifts that are earmarked for specific individuals.
Senate Committee Passes Charity Relief Legislation
Legislation is similar to bill introduced but not enacted in 2002.
Properly Reporting Year-End Contributions for Tax Purposes
Generally, checks backdated for December but received in January must be reported with the new year's contributions.
The IRS Tax Guide for Churches
The “Tax Guide for Churches and Religious Organizations” (the “Guide”) was updated in 2002 and
Tax Court Addresses Contributions of Noncash Property
Donations of property valued at more than $5000 require proof of a qualified appraisal for tax purposes.
Court Denies $500,000 Stock Contribution for Lack of Substantiation
Key point was that stock was privately held, not publicly traded.
Can Bankrupt Debtors Make Contributions to Their Church?
Law allows for exceptions to the use of disposable income in bankruptcy cases.
IRS Addresses Substantiation of Charitable Contributions
What church treasurers need to know.
White House and Congress Reach Deal on Aid to Charity
What church treasurers need to know about the CARE Bill.
Substantiating Contributions of Property
Court rules "self-generated receipts" are not enough for substantiation requirements.
Properly Reporting Year-End Contributions
How to handle January contributions backdated to the prior year.
What Church Treasurers Should Know About Gifts of Stock (Part 2)
Churches and donors need to know the applicable tax rules.
Giving to One’s Church After Declaring Bankruptcy
Bankrupt donors can use disposable income for tithing provided requirements are met.
What Church Treasurers Should Know About Gifts of Stock (Part 1)
Churches and donors need to know the applicable tax rules.
Tax Court Denies a Donor’s Charitable Contribution Deductions
Donor failed to record donations and transferred car ownership to an individual.
Estimating Charitable Contributions
Recent court case emphasizes need to prove contribution amounts.
Charitable Donations Act Upheld
Act protects charitable donations made by bankrupt debtors.
IRS Addresses Form 8282 Reporting Requirement
Penalty will be issued if form does not list donor's social security number.
Proposal Would Increase Charitable Giving
Report predicts additional $14.6 billion in charitable gifts would result.