I know about the new law that requires you to get a receipt, but that happened just recently. What about all the donations I made before the law passed? Does the IRS expect me to have receipts for donations made in 2006 before the new law passed?
2007-01-19 09:26:29 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
WRONGO, folks!
Y'all are thinking of LAST YEAR'S rules. New rules REQUIRE receipts for all donations, even $20 at the church.
Tax Advisor
2007-01-19 11:45:15 · answer #1 · answered by WealthBuilder 4 · 0⤊ 0⤋
I believe it's only for donations over $200 that a receipt is required. Although I keep all mine just in case. It's good to have in case you ever get audited.
2007-01-19 11:27:26 · answer #2 · answered by kittikatti69 4 · 0⤊ 1⤋
no longer in common words is it unlawful...it would want to get the accountant a hefty high-quality and probable barred from commercially submitting taxes interior the destiny. besides, the idea would not make any experience. A deduction is in basic terms pennies on a dollar. It would not make experience to spend a dollar to maintain on the most 40 8 cents. Now in case you want a criminal advice. Take that $500 and purchase some kit which will make you more effective perfect at your occupation. you'd be in a position to offset that adverse to the gross income to have a smaller information superhighway income. this also will decrease the quantity of self employment tax you want to pay. although, this in common words works in case you want the kit...it continues to be pennies on the dollar. a more effective perfect idea is positioned it right into a retirement fund. Now what type of fund is a very diverse question. It relies upon on your situation. desire this enables.
2016-10-15 11:21:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No you can claim a certain amount (not sure what it is) without receipts before the irs will red flag your tax return.
2007-01-19 09:29:48 · answer #4 · answered by surfer grl 5 · 0⤊ 1⤋
if it's over 200 - u need to have a receipt...it's always been like that.
2007-01-19 09:33:56 · answer #5 · answered by kristina807 5 · 0⤊ 1⤋
the 2006 law made it MUCH STRICTER yes get one.
2007-01-19 10:39:56 · answer #6 · answered by Anonymous · 0⤊ 1⤋
No, but if you are ever audited you better have it.
2007-01-19 09:29:28 · answer #7 · answered by Anonymous · 0⤊ 1⤋