The Peck Group, LC
Free 30 minute telephone consultation
770-884-6914 / email us E-mail Maps
Practice Areas

Work with experienced legal counsel to address issues with charitable donation deductions

Last time, we mentioned a legislative proposal that would make significant changes to tax law, changes that are very likely to have a significant negative impact on charitable giving. It isn’t clear yet how far the proposal will advance—there are certainly opponents—but if it does, the effects could be widespread, hitting nonprofit organizations hard.

Those who choose to make charitable contributions need to understand, of course, the rules surrounding charitable deductions in order to ensure they comply with the tax code. The general rules surrounding charitable contributions touch upon: the types of organizations to which charitable deductions may be made; the types of contributions taxpayers can deduct; how much can be deducted; the records that must be kept; and how taxpayers are supposed to report charitable contributions.  

Those who make charitable contributions should be sure to take advantage of the ability to deduct when it makes sense to do so. Care should be exercised in documenting charitable gifts and in accurately reporting them to the IRS, though. One of the common grounds for IRS audit is discrepancies in claiming deductions.

Often, when the IRS targets a taxpayer for a discrepancy related to deductions for charitable gifts, the matter can be cleared up relatively easily. When major mistakes are made, though, a taxpayer can end up owing the IRS in penalty fees and interest. Working with experienced legal counsel in these situations ensures a taxpayer’s rights are protected and that he or she has the best possible opportunity to resolve the case in a favorable way. 

No Comments

Leave a comment
Comment Information

Talk to an Attorney

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

contact us via email

Contact Us

5855 Sandy Springs Circle N.E., Suite 190
Atlanta, GA 30328

Phone: 770-884-6914
Fax: 770-933-2369
Atlanta Law Office Map

back to top
The Peck Group, LC

Serving You

Located in Atlanta, The Peck Group, LC, represents clients nationwide. Regionally, we are committed to serving clients in Fulton County and throughout the state of Georgia.