The Internal Revenue Service reminds taxpayers looking to maximize their tax savings before the end of the year to consider charitable giving. Many taxpayers may already be planning to do so for Giving Tuesday on November 28. Giving money or goods to a tax-exempt charity before December 31 can usually be deducted on that year’s federal income tax return.
This #GivingTuesday, IRS has tips to find tax-deductible options:
- Donating to disaster recovery efforts or a local shelter?
- Want to know the special rules to get a tax deduction from donating cars, boats and other property?
- Cash or non-cash year-end gifts to charity? What to know for a tax deduction on your IRS return.
- IRA owners over age 70½ – want to know about a different way to give?
- Hoping for a tax-deduction for your Giving Tuesday donation? Itemize or eFile your return
IRS YouTube videos:
- IRS tool IRS.gov/eoselectcheck