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IRS to Develop Rules Forbidding Charitable Donations In Lieu of Taxes

Release Date: May 24, 2018
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The IRS has issued Notice 2018-54 to advice that it will provide warning forbidding making charitable contributions in lieu of property taxes

From Michele Adams, President TCTANJ:

 

We are in receipt of IRS Notice 2018-54, a copy of which is attached for your use, informing taxpayers that the IRS will be formulating regulations that will emphasize the prohibition of the transfer of tax payments to charitable trusts.

We will continue to monitor developments in this matter and post them to this website as necessary to keep you informed and directed.

Respectfully,

Michele Adams, CTC
President, TCTANJ