Taxpayers often want to donate to a charity around the holiday season.
December 1, 2020
As an incentive for 2020, individuals can deduct up to $300 without itemizing deductions on their tax returns. And an IRS tool, the “Tax Exempt Organization Search,” can help you determine if giving to your favorite cause will allow for a tax deduction. It provides information about an organization’s federal tax status and filings. You can locate organizations by legal name or a “doing business as” name. The search results are sortable by Employer Identification Number, name, state and country. You also can find out if an organization’s tax-exempt status has been revoked. To use the tool, visit http://bit.ly/2Jlru3l