Sunday, April 15, 2007

Paper trail to the pulpit
New IRS regulations require receipts for gifts to nonprofits

By Liz F. Kay, Sun reporter
April 15, 2007

Throwing a few dollars into the collection plate may never be the same -- not, at least, if you want to deduct the gift on your taxes next year.

As Americans finish their 2006 taxes this weekend, these returns mark the last time they can use a personal diary as a record of charitable contributions under $250.

Under new IRS rules, all charitable gifts made in 2007 must be acknowledged with a detailed receipt, canceled check or credit card statement.

These new rules will "impact how kids put money in the poor box ... especially Catholics who have three kids," says Jacqui Scher, who attends St. Patrick's Church in Havre de Grace with her husband and their two daughters and son.
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