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The Internal Revenue Service is providing guidance on how employers and employees can help Ukraine while also qualifying for tax relief on the donation program.
Under IRS rules, donors can both deduct the value of the gift and avoid any capital-gains tax on the investment.
While tax planning works better as a year-round process, there are steps you can take now to get your finances ready for filing in April.
The pandemic-related tax provision permits more people to deduct donations to qualifying charities on their 2021 federal income tax return.
The pandemic-related tax provision permits more people to deduct donations to qualifying charities on their 2021 federal income tax return.