Topic
Charitable Contribution Deduction
256 published works
International Financial Law Prof Blog
Treasury Issues Proposed Rule on Charitable Contributions and State and Local Tax Credits
The U.S. Department of the Treasury today issued a proposed rule on the federal income tax treatment of payments and property transfers under state and local tax credit programs. The…
Legacy Advisors
Limitations for Charitable Deductions and SALT Credits
By Glenn Newman, Bradley R. Marsh, Marvin A. Kirsner
The Tax Cuts and Jobs Act (TCJA) placed a $10,000 annual limit on the deductibility of state and local taxes (SALT). In response to and attempting to work around that…
Law on Purpose
IRS Publishes New Gift Substantiation Regulations
Last month, the IRS issued final regulations entitled “Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions,” codified as Treasury Regulation Sections 1.170A-15 (cash), -16 (noncash), -17 (qualified…
Wills, Trusts & Estates Prof Blog
Article on The Charitable Contribution Strategy: An Ineffective SALT Substitute
Andy Grewal recently published an Article entitled, The Charitable Contribution Strategy: An Ineffective SALT Substitute, Tax Law: Tax Law and Policy eJournal (2018). Provided below is an abstract of the…
Rubin On Tax
Final Charitable Contribution Reporting Regulations Issued
The Code imposes various reporting and substantiation requirements in order for a donor to claim a charitable contribution. More than once I have seen the IRS adopt a strict approach…
Nonprofit Law Prof Blog
SALT Workarounds and Return Benefits for Charitable Contributions
The much discussed attempts by high-tax states to find a way for their residents to continue to contribute to state and local coffers without running smack into the new $10,000…
Wills, Trusts & Estates Prof Blog
SALT-Free Alchemy? Converting State Taxes to Charitable Deductions [New York]
When President Trump passed the Tax Cuts and Jobs Act, an individual's deduction for state and local taxes (SALT) is now limited to $10,000 for a married couple or $5,000…
Nonprofit Law Prof Blog
Substantiating Charitable Contributions
In this article, the IRS explains how contributors to charitable organizations can substantiate their contributions. The article begins by explaining that charitable organizations must provide written disclosure statements to donors…
Wills, Trusts & Estates Prof Blog
Article on Charitable Contributions in Lieu of SALT Deductions
David Gamage recently published an Articled entitled, Charitable Contributions in Lieu of SALT Deductions, Tax Law: Tax Law & Policy eJournal. (2018). Provided below is an abstract of the Article:State…
Tax Controversy Report
Conservation Easements: Charitable Deduction Disallowed Under “Substantial Benefits” Test
In Wendell Falls Development, LLC v. Commissioner, T.C. Memo. 2018-45, the Tax Court denied a charitable contribution deduction for a taxpayer’s contribution of a conservation easement because the taxpayer expected…