acknowledgment letters

donations substantiation

Did You Make Donations in 2020? There’s Still Time to Get Substantiation

If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2020 income tax return? It depends. What is required To support a charitable…

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acknowledgments

Writing Donation Acknowledgment Letters

Sending thank-yous to your donors doesn’t just make sense in terms of building and maintaining relationships. The IRS mandates that taxpayers substantiate single contributions of $250 or more with contemporaneous written acknowledgments. Here’s what you should include in those acknowledgments. The essentials A written contribution acknowledgment should contain: The name of your organization, The amount…

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