EO Update December 2, 2004
Inside This Issue:
- The holidays are an important fundraising season for many charitable organizations. The IRS website offers resources for charities and taxpayers making tax-deductible contributions.
- IRS Issues Consumer Alert for Taxpayers Donating Used Cars.
The holidays are an important fundraising season for many charitable organizations. The IRS website offers resources for charities and taxpayers making tax-deductible contributions:
SEARCH FOR CHARITIES PAGE: This page provides a list of organizations eligible to receive tax-deductible charitable contributions, via a searchable electronic version of Publication 78, Cumulative List of Organizations described in Section 170(c) of the Internal Revenue Code of 1986.
In addition, organizations whose tax-exempt status has been suspended under IRS section 501(p) are listed on this page.
An electronic version of Publication 78 can be downloaded from the website; a paper version is available for sale from the Government Printing Office, or available for viewing at many public libraries. It is important to note, however, that some organizations eligible to receive tax-deductible contributions may not be listed in this publication.
Donors may verify an organization's tax-exempt status and eligibility to receive tax-deductible charitable contributions by requesting to see an organization's IRS letter recognizing it as tax-exempt or directly calling the IRS (toll-free) at 1-877-829-5500.
PUBLICATION 526, CHARITABLE CONTRIBUTIONS: Publication 526 contains more detailed information about the deductibility of contributions. Publication 526 is available for download here; paper copies can be ordered by calling 1-800-TAX-FORM (829-3676).
PUBLICATION 1771, CHARITABLE CONTRIBUTIONS: SUBSTANTIATION AND DISCLOSURE REQUIREMENTS: Publication 1771 provides information for organizations and donors about the substantiation and disclosure requirements for charitable contributions. Publication 1771 is available for download here; paper copies can be ordered by calling 1-800-TAX-FORM
IRS Officials Urge Care for Those Making a Car Donation; New Law Changes Rules at End of the Year
The Internal Revenue Service issued a consumer alert this week to help taxpayers avoid potential pitfalls when they donate their automobiles to charities, including the impact of the American Jobs Creation Act of 2004 on the rules for the contribution of used motor vehicles, boats and planes after Dec. 31, 2004.
Publication 4302, A Charity’s Guide to Car Donations, and Publication 4303, A Donor’s Guide to Car Donations , describe the regulations governing donations made prior to December 31, 2004.