
WASHINGTON, D.C. (The Adobo Chronicles) – It’s that time of the year when U.S. taxpayers start receiving their tax forms like W-2’s and 1099’s, as well as their donation receipts for their 2014 charitable donations which are fully tax-deductible (unless they received goods or services as part of their donations).
The summer of 2014 saw one of the most successful donation campaigns in nonprofit history — the Ice Bucket Challenge to benefit the ALS Association. It was a campaign that went viral worldwide, raising hundreds of millions of dollars for ALS research.
As Americans begin to file their 2014 income tax returns, the Internal Revenue Service (IRS) announced a ruling that only 80% of donations to the Ice Bucket Challenge is tax-deductible. The remaining 20% will be used by state governments to make up for all the water that went to waste as a result of the ice bucket challenge campaign.
In California, which continues to experience a severe drought, taxpayers can only deduct 60% of their donation to the Ice Bucket Challenge.
Taxpayers who made donations to the campaign are advised to consult with their tax attorneys to avoid being audited by the IRS.
THE VATICAN, Italy (The Adobo Chronicles) – As she wiped her tears, Philippines Social Welfare and Development Secretary Dinky Soliman finally admitted on Tuesday that she had homeless people rounded up to put Manila in order for the visit of Pope Francis last month.
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