Penalty for backdating charitable contributions

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Charitable contributions, also known as charitable donations, are gifts made to qualified organizations that have obtained 501(c)(3) tax status, such as educational institutions, religious organizations, government entities, and other charities.

They say that one should not look a gift horse in the mouth.

We decided to go against this proverb and look carefully in the mouth of one such gift horse.

Gifts of services (donated time, skills, or efforts) provided to a charity are not property, and therefore do not qualify as gifts for the purposes of issuing official donation receipts.

For more information, see Gifts of services and What is a gift?

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