Did you give to charity in 2021? Make sure you have substantiation

If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? It depends. The requirements To prove a charitable […]
Can you deduct charitable gifts on your tax return?

Many taxpayers make charitable gifts — because they’re generous and they want to save money on their federal tax bills. But with the tax law changes that went into effect a couple years ago and the many rules that apply to charitable deductions, you may no longer get a tax break for your generosity. Are […]
IRS unveils new tool to search for charitable organizations

Are you looking for a worthy local charity or want to make sure your favorite nonprofit is in good standing? The IRS has published a new search tool that is designed to provide easier access to information on tax-exempt organizations. The new Tax Exempt Organization Search (TEOS) replaces the EO Select Check. The new tool […]