IRS Adjusts Rules on Allowable Deductions
By GRANT WILLIAMSThe Internal Revenue Service has announced several changes for the 2001 tax year that adjust tax laws to reflect inflation. One change affects the way donors calculate their charitable deductions. Federal law allows donors to take deductions only for the portions of their…
By Grant Williams
Contributor
Charitable Deductions Rise, Says IRS Report
By GRANT WILLIAMSNew statistics released by the Internal Revenue Service show that deductions claimed for charitable contributions rose from $99.2-billion in 1997 to an estimated $109.2-billion in 1998, an increase of 10.1 percent. The jump marks the third straight year that charitable deductions…
By Grant Williams
Contributor
Agency Releases Data on Nonprofit Finances
By GRANT WILLIAMSThe Internal Revenue Service has issued a report tracing the growth of charities from 1996 to 1997. The number of charities in the United States that filed informational tax returns with the government rose from 192,059 in 1996 to 198,957 in 1997, an increase of 3.6 percent. That…
By Grant Williams
Contributor
Cheney Releases Details of Charitable Giving
Richard B. Cheney, the Republican vice-presidential nominee, says that he and his wife, Lynne Cheney, donated $209,832 to charity from 1990 through 1999 and took tax deductions for that amount, a figure that represents about 1 percent of the couple’s adjusted gross income of $20.9-million for that…
By Grant Williams
Contributor
Cheney Releases Details of Charitable Giving
Richard B. Cheney, the Republican vice-presidential nominee, says that he and his wife, Lynne Cheney, donated $209,832 to charity from 1990 through 1999 and took tax deductions for that amount, a figure that represents about 1 percent of the couple’s adjusted gross income of $20.9-million for that…
By Grant Williams
Contributor
New Figures Released on Charity Deductions
By GRANT WILLIAMSUsing statistics from the Internal Revenue Service, RIA -- a tax-information publisher -- has calculated the average deductions for charitable contributions taken by taxpayers in 1998 in six tax brackets: Income Average contribution 1998 0-$14,999 $1,173 $15,000-29,999 $1,565…
By Grant Williams
Contributor
Hands-on volunteerism wins praise, but flap over ’97 donations lingers Charity has proven to be a controversial subject for Al Gore. The vice president touched off a national debate on personal giving after his 1997 ALSO SEE: Gore Vows ‘New Partnership’ With Religious Groups How Much Al and Tipper…
By Grant Williams and Jennifer Moore
Hands-on volunteerism wins praise, but flap over ’97 donations lingers Charity has proven to be a controversial subject for Al Gore. The vice president touched off a national debate on personal giving after his 1997 ALSO SEE: Gore Vows ‘New Partnership’ With Religious Groups How Much Al and Tipper…
By Grant Williams and Jennifer Moore
Hands-on volunteerism wins praise, but flap over ’97 donations lingers Charity has proven to be a controversial subject for Al Gore. The vice president touched off a national debate on personal giving after his 1997 ALSO SEE: Gore Vows ‘New Partnership’ With Religious Groups How Much Al and Tipper…
By Grant Williams and Jennifer Moore
Court Says IRS Was Right to Strip Church’s Exemption
A federal appeals court has ruled that the Internal Revenue Service properly pulled the tax exemption of a New York church after it ran newspaper advertisements opposing Bill Clinton for president in 1992. Under the law, churches and charities must not participate in political campaigns in support…
By Grant Williams
Contributor