New IRS Gift Substantiation Guidelines Opposed by National Council of Nonprofits

New IRS Gift Substantiation Guidelines Opposed by National Council of Nonprofits

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A new voluntary gift substantiation regime proposed by the IRS is being opposed by the National Council of Nonprofits as well as a number of individual state associations of nonprofits.

The system would provide an alternative to the “contemporaneous written acknowledgements” now in use by providing 501(c)(3) nonprofits with the option to report gifts over $250 to the IRS by the donor’s social security number. Though it is not intended to be mandatory, it is seen as being confusing, unnecessary, and potentially injurious to giving.

Source Name: 
Nonprofit Quarterly
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