Please! If you donate over $250 in cash or non-cash items to a charity, make sure you get the letter from the charity detailing and acknowedging the donaton. If you don’t have it and are audited, you are sunk! I saw a court case where lack of a letter cost the taxpayer a 2 million charitable deduction plus a 20% negligence penalty on top of the regular tax, penalty and interest. Not having the letter probably cost the taxpayers at least 1.2 million dollars in tax and negligence penalties (it could have been as much as 2 million dollars once additional penalties and interest were figured in.) All because someone didn’t know the rule of the acknowledgement letter from the charity!
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