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IRS Suggests Donations to Charities to Ease 2003 Income Tax Liability.
- Article from:
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The Tribune (Mesa, Arizona) (via Knight-Ridder/Tribune BusinessNews)
- Article date:
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December 27, 2003
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Copyright informationCOPYRIGHT 2003 The Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Edward Gately
Dec. 27--Between now and New Year's Day, consumers should take the time to focus on what they can do to reduce their 2003 income tax liability and make the upcoming tax filing season easier.
The biggest thing they can do right now, according to the Internal Revenue Service, is give generously to charitable organizations.
"That means actually pay over the money by Dec. 31, not just promise to pay it over," said IRS spokeswoman Jean Carl. "Making contributions to a tax-exempt organization . . . reduces the income on which they're taxed. Of course, make sure you have receipts from organizations so that you have that information should you be ...