The U.S. Treasury Department and IRS released for publication in the Federal Register final regulations (T.D. 9836) concerning the substantiation and reporting requirements for cash and non-cash charitable contribution deductions.
Today’s release finalizes regulations that were proposed in 2008, with certain changes.
The final regulations provide:
- Substantiation requirements for noncash contributions of more than $500 under section 170(f)(11)(B) through (D) (added to the Code by legislation enacted in 2004)
- Definitions of “qualified appraisal” and “qualified appraiser” for noncash contributions under section 170(f)(11)(E) (added to the Code by legislation enacted in 2006)
- Substantiation requirements for contributions of clothing and household items under section 170(f)(16) (also added in 2006)