Donation-based crowdfunding and nontaxable gifts
By: Metrejean, Cheryl T [author]
Contributor(s): McKay, Britton A [author]
Language: English Copyright date: 2018 In: Journal of Accountancy Mar 2018, Vol. 225 Issue 3, pages 43 - 46Summary: The article discusses the tax issues for people setting and for beneficiaries of donation-based crowdfunding and nontaxable gifts. It notes the guidance issued by the Internal Revenue Service (IRS) that includes amounts raised that may qualify for gift treatment depending on how a donation-based crowdfunding campaign is set up. Other topics discussed include information reporting by payers, agency and gift theory as possible defenses, and steps to address IRS notice of deficiency or inquiry.| Item type | Current location | Home library | Call number | Status | Date due | Barcode | Item holds |
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JOURNAL ARTICLE
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COLLEGE LIBRARY | COLLEGE LIBRARY PERIODICALS | Not for loan |
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The article discusses the tax issues for people setting and for beneficiaries of donation-based crowdfunding and nontaxable gifts. It notes the guidance issued by the Internal Revenue Service (IRS) that includes amounts raised that may qualify for gift treatment depending on how a donation-based crowdfunding campaign is set up. Other topics discussed include information reporting by payers, agency and gift theory as possible defenses, and steps to address IRS notice of deficiency or inquiry.
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