Introduction To “Friends Of” Organizations
By EsqSocial Corporation 22/03/21
Under § 170(c) of the Internal Revenue Code of 1986 as amended (the “Code”), a U.S. taxpayer may only claim a deduction on his or her federal income tax return for contributions made to 501(c)(3) charitable organizations created or organized in the U.S. However, there are a variety of ways for U.S. taxpayers to support foreign charitable efforts. In addition to supporting foreign charitable efforts by making gifts to a U.S. 501(c)(3) that has programs outside of the United States, a U.S....
By: Goodwin