Title

What Can the IRS Compel Charities to Say to Donors

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.

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