What doesn't count for a deduction?

While iGive.com has been been set-up to allow donations from your purchases to qualified organizations to be considered for tax-deductions there are several guidelines.

 

To be tax-deductible, the IRS wants to make sure that:  

 

  • You're giving away your money and that your donation is voluntary.

  • Your donation is going to a cause of your choice.

  • Your money is being donated to an entity that qualifies under section 170 of the IRS code.

  • You get a written receipt from the cause for donations over $250 and have an itemization of donations less than $250.

  • No deduction is taken prior to the money actually being disbursed by your agent.

  • Only donations through purchases count towards tax deductions.

 

Unfortunately not all funds raised through iGive.com are eligible for tax deductions. 

  • any bonuses you may earn do not count for deductions

  • money earned from searches do not count

  • funds donated to causes that are not eligible under the tax regulations.

NOTE: iGive does not have the ability nor cannot by law act as a tax adviser. You will need to consult a local financial adviser, as each state/country varies in their rules and laws.

Add Feedback