Charitable Donations

News & Analysis as of

Post-Death Action Reduced Amount of Estate Tax Charitable Deduction

Decedent died and left a majority stake in a real property management corporation to a private foundation. The estate tax value of the stock was $14.182M. After the decedent’s death, but before the stock was transferred...more

Be Organized to Preserve Your Charitable Deductions for Property Donations

3 Things to Remember About Documenting Charitable Gifts of Property, Securities and Art. Last month in this blog, we described five ways to be diligent about documenting charitable gifts of cash or out-of-pocket expenses...more

Quid Pro Quo: When a “Gift” is not a Gift

When it comes to properly documenting property and cash donations, most charities are well-versed with the IRS’ substantiation rules. But equally as important to those rules are the disclosure requirements regarding quid pro...more

Donate art and secure a tax break

Valuable works of art may be ideal candidates for charitable donation. Generally, it’s advantageous to donate appreciated property to avoid capital gains taxes. Because the top capital gains rate for art and other...more

Perspectives - March/April - 2016

The American Logistics Aid Network (ALAN) was founded by several professional and trade associations that came together after Hurricane Katrina to help provide humanitarian relief. Today, ALAN comprises hundreds of supply...more

Act Now to Preserve Your 2015 Charitable Deductions

5 Ways to Be Diligent with Charitable Gifts of Cash Remember that formal benefit dinner you attended last fall? The contentious battle for that golf package at the charity auction in the spring? Your donation to the...more

Tax Court to Exempt Orgs: Substantiate!

While we’re not even three full months into 2016, the United States Tax Court already has decided two cases, which disallowed tax deductions for donors based on a tax exempt entity’s failure to properly substantiate those...more

Crowdfunding, Online Payments, and Charitable Fundraising

Nonprofits engaged in fundraising from the general public have been “crowdfunding” for centuries! Now, however, there is a profusion of online crowdfunding platforms of different types, each with its own benefits and...more

Provisions Affecting Charities in Proposed Budget

The Administration’s proposed budget for Fiscal Year 2017 features several proposals that would impact charitable organizations and their donors, including proposals to streamline the private foundation excise tax on net...more

"FEC Dismisses Wal-Mart PAC Match Case"

The Federal Election Commission (FEC) recently dismissed a complaint filed against Wal-Mart Stores, Inc. and its political action committee (PAC), finding that Wal-Mart's 2-for-1 PAC match program did not violate federal...more

How to Make Sure You Don't Lose Your Charitable Contribution Deduction

In order for a U.S. taxpayer to deduct contributions to charity on his or her federal income tax return (Form 1040), the taxpayer must comply with very specific rules set forth in the Internal Revenue Code (the “Code”) which...more

The Three Most Important Provisions for S Corporations Under PATH Act

It has become a tradition that at the end of each year, Congress passes legislation to extend previous legislation. In late 2015, Congress passed Public Law 114-113, which contains the Protecting Americans from Tax Hikes Act...more

Update: IRS Withdraws Proposed Regulations on Substantiation of Donations in Response to Taxpayer Comments

Back in September of 2015, the Treasury and IRS issued proposed regulations related to section 170(f)(8)(D) providing an alternate framework for substantiating charitable donations. The proposal would require a donee...more

Keeping it Together: Foundations, DAFs, and the Problem of Bifurcated Payments

The end of the year brings a flood of gifts and grants to public charities, as well as perennial questions about how the donor will benefit in return. As a general matter, individual donors may receive “benefits” in...more

Donors and Charities Benefit Under New Tax Legislation

While most provisions of the Internal Revenue Code (“Code”) do not automatically expire, there are dozens that do. Included among the expiring provisions have been several intended to enhance charitable giving. Each has been...more

Congress Forges PATH in Tax Laws for Business, Individuals

Congress has avoided a government shutdown by agreeing to a new budget in its Consolidated Appropriations Act, and the adopted legislation [cynically named the Protecting Americans From Tax Hikes (PATH)], includes some...more

Thanks But No Thanks: Proposed Charitable Gift Substantiation Regulations Receive a Critical Response

On September 18, the Department of the Treasury and Internal Revenue Service (the “IRS”) proposed regulations relating to the substantiation of charitable contributions made to Section 501(c)(3) organizations. If approved,...more

2015 Year-End Estate Planning Advisory

The end of the year is quickly approaching. Outlined below are reminders about a number of tax planning opportunities that, if you have not already done so, you may want to take advantage of before year-end. Also outlined...more

Employee Benefits & Executive Compensation Advisory: Year-End Tax and Spending Legislation Includes Employee Benefits Provisions

In a year-end flurry of activity, Congress adopted major tax and spending legislation, which was signed into law on Friday, December 18 by President Obama. The legislation, called the Consolidated Appropriations Act, 2016...more

IRA Charitable Rollover Made Permanent

On December 18, 2015, Congress passed and President Obama signed into law the "Military Construction and Veterans Affairs and Related Agencies Appropriations Act." Section Q of the Act amends the tax code in several ways in...more

Obama Signs PATH, Making IRA Charitable Rollovers Permanent

The Protecting Americans from Tax Hikes Act of 2015 (PATH) was signed into law by President Obama on December 18, 2015. PATH provides permanent extensions of certain tax benefits for individuals that have long been temporary,...more

OIG Tightens Requirements of Prior Favorable Advisory Opinion on Charity Patient Assistance Program for Cancer Drugs

On December 7, 2015, OIG posted a modification adding additional strictures to a prior favorable Advisory Opinion (No. 07-11) regarding a charity’s operation of a patient assistance program (PAP) to provide financial...more

Spending Bill Prevents SEC From Requiring Disclosure of Political Contributions

The current version of the spending bill in Congress prevents the SEC from using authorized funds to require disclosure of political contributions. Tucked away on page 1982 of the Consolidated Appropriations Act, 2016 is the...more

The IRS’ Proposed Regulations to Provide a Substitute to the “Contemporaneous Written Acknowledgment” Requirement: A Data Security...

If you are a donor who makes a charitable gift of $250 or more, you need to obtain a “contemporaneous written acknowledgment” (CWA) letter from the recipient charitable organization to substantiate your donation and take the...more

IRS’s New, Optional Donor Form Causes Confusion

On September 16, 2015, the Internal Revenue Service (IRS) issued proposed regulations to provide an alternative method for substantiating charitable contribution deductions. In connection with these regulations, the IRS will...more

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