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cider (![[info]](http://www.journalfen.net/img/userinfo.gif){kind=small} cider) wrote in ![[info]](http://www.journalfen.net/img/community.gif){kind=small} otw_news,@ 2008-09-18 23:10:00 |
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Nonprofit status announcement
Mirrored from the LJ Community.
We're very pleased to announce that our tax-exempt, nonprofit status has been officially approved by the IRS. \o/ One of the benefits of our nonprofit status is that any donation that you make to the organization, including your US $10 OTW membership fee, is now tax-deductible in the United States! Even better, your past donations are also tax-deductible, back to our date of incorporation: September 5, 2007.
For those of you who donated in 2008, or who plan to donate this year, donations will be deductible as part of your itemized deductions, with the rest of your charitable donations. If you donated in 2007, you can retroactively claim your OTW donations by filing an amended return (form 1040X) for tax year 2007.
Please note that if you are located outside the US, your contribution may or may not be tax-deductible. You should consult with a tax adviser and see whether a gift to a US 501(c)(3) qualifies for a tax deduction under your local laws.
Here are some resources on the topic:
http://www.irs.gov/newsroom/article/0,
http://www.irs.gov/charities/charit
http://www.irs.gov/taxtopics/tc308.h
-- Development and Membership Committee
Mirrored from the LJ Community.
We're very pleased to announce that our tax-exempt, nonprofit status has been officially approved by the IRS. \o/ One of the benefits of our nonprofit status is that any donation that you make to the organization, including your US $10 OTW membership fee, is now tax-deductible in the United States! Even better, your past donations are also tax-deductible, back to our date of incorporation: September 5, 2007.
For those of you who donated in 2008, or who plan to donate this year, donations will be deductible as part of your itemized deductions, with the rest of your charitable donations. If you donated in 2007, you can retroactively claim your OTW donations by filing an amended return (form 1040X) for tax year 2007.
Please note that if you are located outside the US, your contribution may or may not be tax-deductible. You should consult with a tax adviser and see whether a gift to a US 501(c)(3) qualifies for a tax deduction under your local laws.
Here are some resources on the topic:
http://www.irs.gov/newsroom/article/0,
http://www.irs.gov/charities/charit
http://www.irs.gov/taxtopics/tc308.h
-- Development and Membership Committee
