On a steamy August day in 1963, the world marveled at the now-iconic words spoken by a then relatively unknown, 34-year-old southern preacher. On that day, Rev. Dr. Martin Luther King, Jr. delivered one of the most famous speeches in history, titled “I Have a Dream,” where he outlined his vision of a more tolerant and cohesive America. The anaphoric speech touched on people treating others with dignity and respect, no matter who they are or where they come from.
Tax Warrior Chronicles
In recent years, the Internal Revenue Service (IRS) has taken a hard line regarding the substantiation of non-cash charitable contributions to reduce fraudulent appraisals and deductions.
The IRS is moving toward stricter enforcement of the rules regarding charitable deductions. In general, you can take a deduction for contributions to charitable organizations. However, in order for a deduction to be allowed certain requirements must be met. One such requirement is that the contribution is made to a qualified charity, as defined in the Internal Revenue Code. The IRS maintains a searchable database of charitable organizations on their website that allows you to obtain information regarding the federal tax status of exempt organizations. Another requirement that must be met is that you must be able to substantiate your contribution. The kind of substantiation required
Top Issues Facing Charities - PART II