Tax Day 2024 and How to Get an Extension from the IRS
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
Are you one of the millions of taxpayers who itemize their deductions on their federal tax return? One of the most common itemized deductions is a donation made to a charitable organization. Good for you if you are the charitable type! But do you know the "rules" of deducting charitable donations?The following is a list of the top ten things the IRS wants every taxpayer to know before deducting charitable donations.
Are you one of the millions of taxpayers who itemize their deductions on their federal tax return? One of the most common itemized deductions is a donation made to a charitable organization. Good for you if you are the charitable type! But do you know the 'rules' of deducting charitable donations?The following is a list of the top ten things the IRS wants every taxpayer to know before deducting charitable donations.
So how does this affect your bottom line? Well, if you donate enough, you may have to adjust your withholding to be sure you won't create a tax liability when tax season rolls around.
For more information see IRS Publication 526, Charitable Contributions, and for information on determining value, refer to Publication 561, Determining the Value of Donated Property. These publications are available on the IRS Web site, IRS.gov or by calling 800-TAX-FORM (800-829-3676).
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Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
IRS has updated tax brackets for 2024. See how this affects your first paycheck this year!
Check out the updated 2024 Federal benefit limits for 401(k), HSA, and simple IRA, and more. Stay informed and plan your finances with confidence!