irs

With 2022 drawing to a close, now is the time to think about end-of-year giving. KCII was able to speak with Terri Bain, a senior tax analyst with H&R Block, to learn more about end-of-year giving and how that can affect your taxes. “End of year giving, pretty basic. If you itemize taxes, you can use a donation that you make to a nonprofit organization, and you can use that on your tax return the following year.”  The deadline for end-of-year giving is December 31st. According to the IRS, regardless of the amount, to deduct a contribution of cash, check, or another monetary gift, you must maintain a bank record, payroll deduction records, or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution.