Document Type
Article
Publication Date
4-10-1995
ISSN
1048-3306
Publisher
Tax Analysts
Language
en-US
Abstract
The 1993 tax act created new substantiation and reporting requirements for charitable giving. One of the new provisions, section 6115, requires a charity to make specified disclosures to the donor. If the charity receives a "quid pro quo contribution" of more than $75 it must inform the donor that the amount of the charitable contribution excludes the value of goods or services the donor received. The charity must provide a good-faith estimate of the value of the goods or services. If the charity fails to comply, it may incur a penalty, section 6714, of $10 per contribution, but not more than $5,000 per fund-raising event.
Recommended Citation
Alan L. Feld,
What Can the IRS Compel Charities to Say to Donors
,
67
Tax Notes
297
(1995).
Available at:
https://scholarship.law.bu.edu/faculty_scholarship/2959
