IRS Withdraws Controversial Proposed Regulations on Reporting Donations and Donor Identity Information

Accounting Today reports that the Internal Revenue Service has withdrawn its proposed regulations permitting charitable donees to substantiate contributions of $250 or more by reporting them directly to the agency under section 170(f)(8)(D) of the Internal Revenue Code.  The proposed regulations proved controversial because the optional method for reporting donations called for disclosing donors’ taxpayer identification numbers (which typically are their social security numbers).  The notice of withdrawal is available here.

Additional Coverage: The Chronicle of Philanthropy

JRB