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Noncompliance Isn’t an Option

Walking the straight and narrow road to deductibility.

The substantiation rules for the charitable deduction are detailed and essentially unforgiving. While “substantial compliance”might be argued successfully as a last resort, it comes at the cost of time as well as legal and accounting fees. Given the unpredictability of prevailing against an Internal Revenue Service challenge with a substantial compliance argument, the best practice is total compliance. Professional advisors are at risk for malpractice lawsuits due to

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TAGS: Philanthropy
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