Cathy Robinson, CPA
Principal
The IRS has withdrawn proposed regulations regarding the
reporting of donor information. The
proposed regulations would have allowed charities to file information returns
about donors instead of providing written acknowledgements to the donors. The problem with filing of information
returns would have required obtaining the social security number of
donors. Some charities felt that asking
for a social security number would discourage potential donors. In addition, other charities were worried
about identity theft.
Therefore, you must obtain written acknowledgement from
the charity for a donation over $250 and save it for your tax preparer.
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