Not-for-Profit Organizations: Tax Receipts for Donations 2024-25
Provider: CalCPA
Length: 50 minutes
Accounting
1 CPE Credits
Basic
QAS self study
Nonprofit organizations must provide their donors with tax receipt letters (written acknowledgment) to comply with IRS rules and help donors get their tax deductions. Preparing tax letters is a deceptively simple task with many tricky points.
In this course, we'll discuss the elements that should go into each type of tax letter, the mechanics of quid pro quo contributions, how to determine donor benefits, and how donor-advised funds fit in. This training will be valuable for nonprofit staff and tax professionals to know what to expect from their clients' tax receipt letters.