Do the new IRS rules under the Pension Protection Act of 2006 prohibits donors from declaring contributions to charitable organizations unless they can produce records of the transactions impact 2006 filing, or is it for 2007? Also, either way, if I have the records of proof, but file electronically, do I need to do anything, or do I merely hold on to the records for a potential audit? In other words, can I still e-file, or do I need to mail my return in with the documentation of the donations?
2007-01-20 08:58:24 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
yes you can still e file the only thing is that youll have to keep those receipts from the organizations just in case you do get audited. If you dont get a receipt you can also use a canceled check or some other document that shows you did in fact contribute.
2007-01-20 09:38:38 · answer #1 · answered by Ski_Bum 3 · 1⤊ 0⤋
The new rules are in effect for the 2007 tax year. You don't have to send in receipts, just keep them in case you're asked to produce them in an audit.
2007-01-20 20:28:04 · answer #2 · answered by Judy 7 · 0⤊ 0⤋