IRS Publication 78 – Exempt Organizations – Pub 78

In Charity Road Sign with dramatic blue sky and clouds. IRS publication 78 the Internal Revenue Service has posted a record of non-profit organizations that have qualified for tax deduction and tax exemption advantages. Many companies that have been removed from the record are revoked in the new digital edition while certain companies that enjoy typical tax-exempt positions are generally omitted. The IRS publication 78 is a digital edition and includes details of a number of non-profit organizations and companies enjoying a tax deduction till the time of the last upgrade.

But it is also important to consider that as per the latest update by Internal Revenue Service publication of the document has been discontinued and the list of tax-exempt companies and non-profit organizations is now available in the ‘Exempt Organizations Select Check’ section of the IRS website. But the digital edition of the book is still available for download and is still a great online tool for researching tax-exempt organizations.

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Publication Definition:

As many other documents published by the Internal Revenue Service IRS publication 78 does not give you any step by step instruction for tax benefits, but actually provides you with a comprehensive list of companies along with charitable and non-profit organizations that are eligible for receiving tax-deductible and exemptible

Contributions under Section 1709 (c) of the Internal Revenue Code of 1986. According to this, taxpayers can claim deductions that are not more than 50% of their Adjusted Gross Income from contribution of cash and noncash items to the listed organizations.

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For maximum convenience of taxpayers on online version of IRS Publication 78 is also available that allows an individual to check out quickly whether an organization is actually qualified for receiving tax-exempting contributions or not. But you must also consider the fact that the list is not all inclusive there might be still a number of companies or organizations that are not included in the list.

For charitable organizations or trusts you must check out their individual positions before making any kind of contributions. That is the reason many consider it better to view IRS publication 78 along with Publication 561 and Publication 526.

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