Re: Widow's Fund

[afcarey@norfolk.infi.net (anne carey)]

Poster: afcarey@norfolk.infi.net (anne carey)

At 1:49 PM 7/18/96, steele@sprynet.com wrote:
>Poster: steele@sprynet.com
>
>  There are ways to do take up a collection without running afoul of the
>private
>inurment provisions of tax-exempt organization law. The easiest way to do
>it is
>not to make it an activity of SCA, Inc. -- the corporation. Get some
>volunteers,
> put out donation baskets at events, and make it clear that the donations are
>not being solicited by the corporation or its subsidiaries.
>  Note: the technical effects of these gifts on the receiptient's taxes
>could be
>interesting, but a good accountant should be able to deal with it.
>  --Esclarmonde


Actually, if it is treated as a gift from individuals to an individual,
there is *no* effect on the recipient's taxes....There is also no effect on
the donor's taxes (no deductions allowed.)  (unless the donor gave more
than $10,000{or is it $20,000?}...then the *donor* would be required to pay
a gift tax on the amount exceeding $10,000 {or $20,000}

Isn't the Internal Revenue Code Fun????
Anne Elizabeth
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