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May 2019 » Sweet (and Sour) Charity
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Stephanie F. Watson, PhD, CPA, Michael Casey, DBA, and Randall B. Bunker, PhD
Taxpayers who give to charitable organizations may be rewarded by a reduction in the amount of federal and state income taxes they pay. Some charitable taxpayers give money, while others donate items. Unreimbursed expenditures on behalf of a charitable organization, however, are not really money, nor are they really items; they are somewhere in between. When taxpayers take deductions for expenditures in this gray area, the IRS often takes exception, resulting in a disallowed deduction and higher taxes due. In some cases, taxpayers have contested the IRS's denial in the courts in an effort to retain their charitable deductions. This article will examine unreimbursed charitable expenditures, by definition and by court cases, so that taxpayers and their advisors can develop strategies to maintain deductibility. It also addresses recent changes in the tax law that may also affect the deductibility of unreimbursed charitable expenditures and other charitable donations.
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