top of page
Search
Writer's pictureCourtney

#4 Large charitable donations - Top five ways to make sure that you get audited by the IRS

Everyone loves to give to charity, even the IRS, and for that reason, the tax code encourages charity donations - up to a point. While you don’t need to itemize any individual donation under $250, for any donation above $250 you should keep a letter proving that the donation was made to a registered charity - and remember, your friend’s Gofundme is more than likely not a registered charity. And if you made a bunch of donations under $250? Well if you are going to claim that more than 10% of your income went to charity, be prepared to have the paperwork ready to show the IRS agent who will be asking you for it.


Feeling lonely? How about a visit from the IRS?


You might think the IRS has a building full of auditors peering over your tax return and waiting for you to slip up. Well, they do, but in recent years the IRS has focused on finding compliance errors that are easy to spot and simple to enforce. It might take the IRS a year or more to catch up with you, but when they do you will owe not just the back taxes, but also fines and interest that might add up to more than the taxes you skipped paying. But if you still really want to get the IRS’s attention, you can read this series on how to make certain they notice you.


160 views0 comments

Recent Posts

See All

Comments


BBTA Tax Advisors

BBTA METRO DETROIT

(586) 276-0720

3603 E 14 Mile Rd, Sterling Heights, MI 48310 USA

 

BBTA ANN ARBOR

(734) 773-0713

229 Depot St, Ann Arbor, MI  48104 USA

 

TOLL-FREE

(888) 808-7748

info@bbtainc.com

Fax: (586) 276-0723

IRSENROLLED.png

ENROLLED AGENTS - AMERICA'S TAX EXPERTS

Only Enrolled Agents are required to demonstrate to the IRS their competence in all areas of taxation, representation and ethics before they are awarded unlimited right to represent taxpayers before the IRS.  Unlike CPAs which are licensed by the state and might not specialize in tax law, BBTA’s Enrolled Agents are federally licensed to represent our clients to the IRS in all fifty states.

IMG_5481_edited.jpg

BBTA METRO DETROIT

3603 E 14 Mile Rd

Sterling Heights, MI 48310

(586) 276-0720

IMG_6606_edited.jpg

BBTA ANN ARBOR

229 Depot St

Ann Arbor, MI 48104

(734) 773 0713

HEAR FROM OUR CLIENTS

bottom of page