The IRS has withdrawn proposed regulations on optional reporting
by charitable organizations. The proposed regulations had generated
significant controversy over the collection of personal
identification information about donors by charitable
organizations.
Acknowledgments
Generally, individuals must obtain a contemporaneous written
acknowledgment from the charitable organization indicating the
amount of the cash and a description of any property contributed
for any contribution of $250 or more (including contributions of
cash or property). The acknowledgment must describe whether the
charitable organization provided any goods or services in exchange
for the gift and, if so, must provide a description and a good
faith estimate of the value of those goods or services.
