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TREAS/IRS | RIN: 1545-BL94 | Publication ID: Fall 2014 |
Title: Donee Substantiation under Section 170(f)(8) | |
Abstract:
Proposing regulations under 26 U.S.C. sections 170(f)(8)(D) or (E). Section 170(f)(8) generally provides a substantiation requirement for certain contributions of $250 or more; otherwise, no deduction is allowed. The substantiation requirement applies for a contribution of $250 or more, must be evidenced by a contemporaneous written acknowledgment ("CWA") from the donee organization, and must contain specific information. The source of our project is subsection (D) of the statute: a taxpayer is not required to acquire a CWA and provide the content information on its return if the contribution is reported by the donee organization, on such form and in accordance with regulations that the Secretary may prescribe. Our view is that absent regulations prescribed by the Secretary on how and in what form a donee organization could provide the appropriate information to the Service, subsection (D) is not applicable. Thus, a taxpayer cannot look to a donee organization to provide the substantiation required by section 170(f)(8). Subsection 170(f)(8)(D) is not self-executing (i.e., regulations must be prescribed before it is applicable). Taxpayers have challenged whether subsection 170(f)(8)(D) is applicable absent regulations (i.e., taxpayers argue that subsection (D) is self-executing). Accordingly, we are tentatively proposing that if a donee organization were to provide the information on its Form 990 that otherwise satisfies the substantiation requirements of section 170(f)(8), that information would satisfy the substantiation requirement only if (1) it were on the return (with extensions) for the year of the contribution to the donee organization, similar to the requirement under subsection (C) ("contemporaneous" requirement) and (2) included identical information to that required under subsection (B) ("content of acknowledgment" requirement). |
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: Undetermined |
CFR Citation: 26 CFR 1 | |
Legal Authority: 26 USC 7805 26 USC 170(f)(8) |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-138344-13 Drafting attorney: Robert Basso (202) 317-4907 Reviewing attorney: Norma Rotunno (202) 317-7011 Treasury attorney: Ruth Madrigal (202) 622-0224 CC: ITA | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Organizations | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Related to 1545-BL95 | |
Agency Contact: Robert J. Basso Senior Counsel Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Washington, DC 20224 Phone:202 317-4907 |