1.
State the amount of the contribution,
2.
Name the person making the donation,
3.
State the fact that either: i) no goods or
services were provided by the charity in consideration for the contribution, or
ii) provide a description and good faith estimate of the value of any goods or
services provided by the charity,
4.
If the donor only received “intangible religious
benefits,” then the receipt must explicitly state this, and
5.
The person seeking the deduction must receive
the receipt no later than the due date of the original federal tax return
(including any extensions obtained).
If these five conditions are not met, then there is no
tax deduction for the contribution. These
conditions have been strictly enforced by the IRS and by the court system with
the result that some taxpayers have lost income tax deductions for very
significant charitable contributions.
I have observed that some charities do not provide tax
qualified receipts. You should read your
receipts to be sure that the required elements are contained. If not, a corrected receipt must be obtained
no later than the due date of your tax return. It is no longer sufficient just
to be able to prove you made the donation. You also have to prove that you received the
tax-qualified receipt within the prescribed time limit. Substantial compliance
is not good enough. S trict compliance with the rules is required.
For non-cash donations, there are additional
requirements, including the possible need for a qualified appraisal. See Form 8283 and related instructions and
also IRS Publication 526.
