Final regulations address how taxpayers can comply with the requirements for adequate substantiation of charitable contributions of money or property.
A charitable contribution deduction is available if there is no quid pro quo.
The IRS issued new procedures for contributions to charitable organizations, including rules for when donors can rely on the information about an organization’s tax-exempt status on the IRS database Tax Exempt Organization Search.
The IRS stated it would challenge the tax benefits of certain syndicated conservation easement transactions.
The IRS withdrew proposed regulations that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations.