Charitable deductions

Businesses can generate tax benefits from unwanted stock.

Depending on the economy and the election, they could be on the chopping block as soon as 2021.

The Internal Revenue Service has released a draft version of the Form 1040 for tax year 2020 with several significant changes probably in store for next tax season.

Businesses donating to charitable funds in exchange for a state tax credit can deduct those costs from their federal taxes, according to regulations released on Friday.

The Senate and House passed bipartisan legislation to help nonprofits remain financially viable during the COVID-19 pandemic.

Nonprofits, lawmakers and others want to see more giving from fund donor-advised funds, which have grown popular recently because they’re so flexible.

It won’t count as income to employees, but they also won’t be able to deduct it.

The Senate voted 96-0 late Wednesday to approve a sweeping $2.2 trillion stimulus package to help the nation emerge from the coronavirus pandemic.

They’re still valuable, but require stricter attention to the rules than ever.

Here’s a look at the most significant decade for the fastest-growing giving vehicle.

Teach clients to avoid the end-of-the-year rush to make the most of their donations.

Here are some of the most commonly used vehicles for tax-advantaged giving your clients can deploy all year round.

There are a host of ways to make the most of the month ahead.

The number of donor-advised fund accounts has tripled in the past four years and grown approximately 150 percent since the passage of the Tax Cuts and Jobs Act at the end of 2017, according to a new report.

Approximately 50 percent of taxpayers made at least one change in their charitable giving strategy in response to the Tax Cuts and Jobs Act, according to a new survey.

The Senate rejected a Democratic proposal that sought to give states leeway to help residents avoid the $10,000 limit on deductions for state and local tax payments.

Democrats are staging a long-shot attempt to chip away at the Republican tax law’s limit on state and local tax deductions, finding few GOP allies despite potential benefit for Republican-led states.

Americans gave less money to charities last year partly because the Republican tax law changes made many people ineligible for tax breaks that can inspire donations.

States like New York and New Jersey that hoped to help residents circumvent the new $10,000 limit on state and local taxes won't be able to do so.

The Tax Court has held that the generous tips and gifts that a Catholic evangelist considered to be part of his efforts to spread the gospel were not deductible charitable contributions.