Failure to substantiate charitable contributions could cost you
Substantiation requirements for charitable contributions vary depending on the size and nature of the donations—and taxpayers should be prepared with adequate documentation.
While a recent article in Forbes pokes fun at substantiating charitable contributions, it reminds us that the IRS is not kidding around when it comes to holding taxpayers accountable.
To read the full article, visit https://www.forbes.com/sites/anthonynitti/2017/07/10/failure-to-substantiate-charitable-contributions-costs-family-142000-in-deductions/#3efec65442e8.
If you have questions about your charitable contributions, contact a ShindelRock tax professional today.