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what is IRS i heard goodwill helps with irs when you give stuff to them?
does everyone pay irs? and what is it? thanks for answering my question
- BobbieLv 78 years agoFavorite Answer
United States Internal Revenue Service (IRS)
And yes from date of birth to your date of deaths taxes will always be the same for all honest law abiding taxpayers OK.
And Good will and other charitable IRS recognized organization can but their are rules that do have to met for this purpose and time in your life OK.
Issue Number: IRS Tax Tip 2013-45 Inside This Issue Nine Tips on Deducting Charitable Contributions
Giving to charity may make you feel good and help you lower your tax bill. The IRS offers these nine tips to help ensure your contributions pay off on your tax return.
1. If you want a tax deduction, you must donate to a qualified charitable organization. You cannot deduct contributions you make to either an individual, a political organization or a political candidate
2. You must file Form 1040 and itemize your deductions on Schedule A. If your total deduction for all noncash contributions for the year is more than $500, you must also file Form 8283, Noncash Charitable Contributions, with your tax return.
3. If you receive a benefit of some kind in return for your contribution, you can only deduct the amount that exceeds the fair market value of the benefit you received. Examples of benefits you may receive in return for your contribution include merchandise, tickets to an event or other goods and services.
4. Donations of stock or other non-cash property are usually valued at fair market value. Used clothing and household items generally must be in good condition to be deductible. Special rules apply to vehicle donations.
5. Fair market value is generally the price at which someone can sell the property.
6. You must have a written record about your donation in order to deduct any cash gift, regardless of the amount. Cash contributions include those made by check or other monetary methods. That written record can be a written statement from the organization, a bank record or a payroll deduction record that substantiates your donation. That documentation should include the name of the organization, the date and amount of the contribution. A telephone bill meets this requirement for text donations if it shows this same information.
7. To claim a deduction for gifts of cash or property worth $250 or more, you must have a written statement from the qualified organization. The statement must show the amount of the cash or a description of any property given. It must also state whether the organization provided any goods or services in exchange for the gift.
8. You may use the same document to meet the requirement for a written statement for cash gifts and the requirement for a written acknowledgement for contributions of $250 or more.
9. If you donate one item or a group of similar items that are valued at more than $5,000, you must also complete Section B of Form 8283. This section generally requires an appraisal by a qualified appraiser.
For more information on charitable contributions, see Publication 526, Charitable Contributions. For information about noncash contributions, see Publication 561, Determining the Value of Donated Property. Forms and publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).
Go to the www.irs.gov website and use the search box for any of the Additional IRS Resources:
• Publication 526, Charitable Contributions
• Publication 561, Determining the Value of Donated Property
• Schedule A, Itemized Deductions
• Form 8283, Noncash Charitable Contributions
Hope that you find the above enclosed information useful. 08/13/2013
- JudyLv 78 years ago
IRS is the Internal Revenue Service, the federal agency that enforces tax laws and collects taxes. A donation to a charitable organization can in some situations reduce your tax by a small % of the donation. For example, donating a shirt that you paid $30 for originally, but Goodwill would sell for $4, might reduce your tax by $1 or might have no effect.
- troLv 78 years ago
the IRS is the administrative branch of the US Treasury to administer income, employee and other taxes that the Congress has legislated
the money goes to the general fund, and the agencies of the Gov't of which IRS is one is supported by the taxes that are paid
- CarenLv 78 years ago
ask your parents what IRS is.
the answer could take hours, and hours, and hours, and hours.