December is traditionally a month for giving generously to charities, friends and family.But it’s also a time that can have a major impact on the tax return filed for the New Year.
Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning:
Contribute to Qualified Charities. For anybody who plans to take an itemized charitable deduction on their 2012 tax return, the donation must go to a qualified charity by Dec. 31.
Asking the charity about its tax-exempt status is the recommended way to start.... read the rest of the story by Subscribing now.