Contributions over $250? Send a letter!

Gomez v. Commissioner just came down from the federal Tax Court, and it reinforces something you should absolutely be on top of as a charity... if you receive a contribution over $250, send a letter to your donors stating so. If not, the contribution is technically not deductible and if the donor's audited, they run a substantial risk of ending up in the same (losing) boat as the taxpayer in this case... more from the Nonprofit Law Prof blog here.