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In response to a taxpayer inquiry, the IRS has confirmed the Secretary of the Treasury may accept, for the government, a gift of money or other property to reduce the public debt and that such payments are deductible as a charitable contribuiton. As with other...


For tax year 2013, the Internal Revenue Service has announced annual inflation adjustments for more than two dozen tax provisions. Of note is the increase of the annual gift tax exclusion to $14,000.


The IRS has responded to an inquiry regarding to what extent donors, grantors, and contributors may rely on the listing of an organization in Publication 78, Cumulative List of Organizations or the IRS Business Master File (BMF) extract for purposes of...


The IRS has clarified that, except in very limited situations,  a contribution of an easement subject to the condition the easement can be swapped is not deductible under section 170(h).

25 Mar 2012 | Information Release | National Publication | News story | 1 comments

The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings.


In keeping with its holiday season custom, the IRS has released its annual tips on year-end giving for taxpayers, which reviews several important tax law provisions that have taken effect in recent years..


The Internal Revenue Service today announced that approximately 275,000 organizations under the law have automatically lost their tax-exempt status because they did not file legally required annual reports for three consecutive years. The IRS believes the vast...


The Internal Revenue Service’s Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 15 and submit its latest round of recommendations to IRS leadership.


Hiding income in offshore accounts, identity theft, return preparer fraud, and filing false or misleading tax forms top the annual list of “dirty dozen” tax scams from the Internal Revenue Service for 2011. Also included is the misuse of tax-exempt...


The IRS is providing one-time relief to allow small tax-exempt organizations to come back into compliance and retain their tax-exempt status even though they failed to file for three consecutive years. A complete explanation of the types of organizations that...


The Internal Revenue Service has announced the release of proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). The IRS is working to finalize the proposed regulations, which are the first of a...


The IRS has replied to an inquiry regarding the tax deductibility of charitable contributions made via credit card. Such contributions are deductible in the year made regardless of when the donor subsequently repays the creditor. Substantiation requirements apply....


The IRS has released Exempt Organization Update. In this issue the IRS requests comments on the new requirements imposed on tax-exempt hospitals under the Affordable Care Act; announces the TEGI Advisory Committee will make recommendations at its June meeting; and...

The Internal Revenue Service today released an interim report summarizing responses to compliance questionnaires sent to 400 public and private colleges and universities in October 2008. The IRS has opened examinations of more than 30 organizations that were selected...
The Internal Revenue Service has issued its annual "dirty dozen" list of tax scams for 2010. Includes are abuses of charitable organizations and deductions.
The Internal Revenue Service today issued guidance designating the earthquake that occurred in Chile in February 2010 as a qualified disaster for federal tax purposes. The guidance allows individuals who receive qualified disaster relief payments from any person to...
Taxpayers wishing to claim their Haiti relief donations on the tax return they are filling out this season must make those donations by the end of this month, according to the Internal Revenue Service.
Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following...
12 Nov 2009 | Information Release | National Publication | News story | 2 comments
In response to an information request from Rep. Kay Granger (R-Texas), the IRS discusses the tax consequences to a donor who receives a repayment of a charitable gift that he or she made in an earlier taxable year plus interest on the repayment..
The IRS has announced its annual "Dirty Dozen" list of tax scams for 2009. And yes, abuse of charities and charitable deductions again made the list.
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