Tax Insights

Your Guide to State, Local, Federal, Estate + International Taxation

Is your charitable donation tax deductible?

Charitable donations are a hot topic during tax season. Luckily, the IRS has a helpful tool to help you determine whether donations can be taken as tax-deductible charitable contributions.

Don’t miss: What your tax professional needs (and doesn’t) to prepare your 1040

It is called the Tax-Exempt Organization Search. This helpful tool lets you search organizations by their Name, City or State, and their EIN. After searching for the organization, you can determine whether the IRS will allow the donation to be a tax-deductible contribution.

Here are some additional features of the TEOS Tool:

  • Provides information about an organization’s federal tax status and filings
  • Donors can use it to confirm the organization is tax-exempt and eligible to receive donations
  • Able to find out if the organization had its tax-exempt status revoked

Click the link below to access the Tax-Exempt Organization Search Tool.

Charity search

The CARES act provided many different changes and updates, one of those was making charitable contributions an above the line deduction in 2020 up to $300. Meaning you no longer must itemize your deductions to reap the benefits of making a charitable donation.

For all your questions and concerns please contact your Henry+Horne tax professional.

Ryan Murphy