Publications

For Want Of A Nail… Lessons From Besaw V. Commissioner On Charitable Deductions
Charitable Donations, Tax Deductions, Tax Law Matthew Erskine Charitable Donations, Tax Deductions, Tax Law Matthew Erskine

For Want Of A Nail… Lessons From Besaw V. Commissioner On Charitable Deductions

For high-net-worth families and collectors, charitable giving can be a powerful estate and tax planning strategy. But as Besaw and similar cases make clear, failure to follow the rules can convert generosity into liability. The IRS and the courts demand precision, and Form 8283 is the roadmap. For want of a properly filled out and documented Form 8283, you will lose your charitable deduction for non-cash donations.

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Navigating The Charitable Deduction Minefield: Insights From The IQ Holdings Case
Charitable Donations, Tax Deductions Matthew Erskine Charitable Donations, Tax Deductions Matthew Erskine

Navigating The Charitable Deduction Minefield: Insights From The IQ Holdings Case

As the landscape of charitable giving and tax planning becomes increasingly complex, adherence to IRS requirements is not just a recommendation but a necessity to safeguard against penalties and maximize tax benefits.

The IQ Holdings case highlights several critical requirements that taxpayers must meet to successfully claim charitable deductions under Section 170 of the Internal Revenue Code.

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