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Forbes contributors publish independent expert analyses and insights. Matthew F. Erskine is a trusts and estates attorney. In Schweizer v. Comm’r TC Memo 2022-102, the Tax Court held that the denial ...

The Treasury Inspector General for Tax Administration (TIGTA) estimated that more than 273,000 taxpayers claimed $3.8 billion in potentially erroneous noncash charitable contribution deductions in tax ...

If you’re claiming an income tax deduction for a contribution to charity of a capital asset worth more than $5k, other than publicly-traded securities, you will need to support your claim with an ...

Last month, the IRS issued final regulations entitled “Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions,” codified as Treasury Regulation Sections ...

As the end of 2022 approaches, many individuals, families and businesses consider making donations to their favorite charities. In light of recent judicial decisions enforcing “strict requirements” to ...

Now’s a good time to tell your clients how to substantiate their charitable gifts on their 2015 federal income tax returns—due by April 18, 2016 (April 19, 2016 for residents of Maine and ...

Noncash charitable contributions can be as simple as a bag of used clothing donated to the Salvation Army, or as complicated as artwork worth millions given to a museum. Contributions can provide a ...

In Schweizer v. Comm’r TC Memo 2022-102, the Tax Court held that the denial of a $600,000 charitable deduction for the donation of a work of art was reasonable because the tax return included an ...