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Comments on Proposed Regulations on the Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions

ACGA and the Partnership for Philanthropic Planning (PPP) comment on Proposed Regulations on the Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions.

CGA and NCPG have asked for guidance regarding IRS Regulation 140029-07, Notice of Proposed Rulemaking Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions (http://www.irs.gov/irb/2008-40_IRB/ar13.html).

 

Guidance has been requested on both substantiation and appraisal requirements for several gift types. We have also asked that the Treasury and IRS provide relief for donors who cannot obtain a proper receipt from the charity to which gifts have been made, despite the donors’ good faith attempts to obtain such a receipt.

Click here to view comments prepared by Conrad Teitell on behalf of ACGA and NCPG.