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Safe harbors, business taxpayer payments to charity for state, local tax credits

Safe harbors, business taxpayer payments to charity

The IRS today released an advance version of Rev. Proc. 2019-12 that provides safe harbors under section 162 for certain payments made by C corporations or passthrough entities to (or for the use of) a charitable organization (that is, one described by section 170(c)) if the C corporations or passthrough entities receive or expect to receive a state or local tax credit in return for these payments made to the charitable organization.


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Read Rev. Proc. 2019-12 [PDF 173 KB]

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