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How do I get a tax deduction from shopping? For more information, see IRS Private Letter Ruling 9623035. Remember, ultimately your personal tax situation affects your ability to take any tax deductions, so you should consult your tax advisor.
At our causes' request, iGive.com does not send checks for amounts less than $25. If an account has less than $25 at the end of the month, the funds will carry over each month until $25 accrues. How will I know my cause got the money? First, we list the date and check number of all the checks we write to causes. As a member, you'll have access to timely reports of your earnings and all funds distributed to your cause. The "Check Report" allows you to see a list of all checks (with dates) sent to your cause. We've even listed the check numbers and amounts. Second, PLEASE call or write your cause to confirm that they got the money. Frankly, if they didn't, we want to know about it as soon as possible. Is there a minimum amount for checks issued to causes? Yes, the smallest check we will write is for $25. Why do you provide this service? It's our mission: to enable the economic power of individuals to benefit their chosen communities. What causes are eligible for tax-deductible donations? If you can write the cause a check and deduct the amount of that check, you can deduct the amount of money iGive.com sends them on your behalf. We've asked the causes listed on our site to tell us if donations to them are deductible, and we'll be listing that information for our members' benefit. Right now, we've structured this only for members in the U.S. and U.S.-based causes. We'll be working to extend this to other countries soon. Will all of my purchases count for deductions? Any purchase made at a vendor listed in the Mall at iGive.com counts. Of course, you must have started your shopping from the Mall in order to get credit for your cause. Why? Because only iGive.com members can earn money for their causes for their purchases and only after we make an agreement with the merchant to donate a percentage of your purchase to your favorite cause. What doesn't count for a deduction? There are lots of other ways to help your cause at iGive.com that may result in money for your cause, but that are not tax-deductible. For instance, any bonuses you may earn do not count for deductions. Only donations through purchases count towards tax deductions. How do I report this to the IRS, and how do I find out all of this for myself? When you become a member, just visit "My Stats" for itemized reports of checks and tax deductions. The "Tax-Deduction Report" gives a breakdown of your donations for the calendar year. The "Shopping Activity Report" is an itemized list of your purchases and the cause(s) they benefited. Just print this out for your records whenever you want to - the IRS currently doesn't require anything more than a listing for a donation under $250 to any one cause. Are there any limits to tax-deductibility? You can choose to give money to as many causes as you wish during the year. You cannot give more than $250 to any single cause via iGive.com in a given month, to make sure that you stay within the IRS limits on gifts without a receipt directly from the cause. Are you qualified to give tax advice? Nope - we're not. We've worked with our attorneys and the published IRS regulations to invent a system that allows you to deduct a portion of your purchases - but it may not work for everybody or every situation. Can I change the cause I support? Yes, as often as you wish. The change is effective from the date you make the change and beyond. You cannot change causes retroactively. Can I choose to get a check instead of give the money to a cause? Yes, you can. You can change your donation preferences anytime, and the change is effective immediately. You cannot change your donation preferences retroactively. If you have choose not to donate your shopping rebates, they will be disbursed to you quarterly. Do you need my name and address for my donations to be tax-deductible? Yes. In order to comply with the IRS regulations, we need your name and address on file. Like all information at iGive.com, it is covered by our extremely strong privacy policy. We will not reveal your information to third parties without your prior permission. Why is this a "patent-pending system"? Nobody's ever done this before, yet for years our members have been asking us "is this deductible?" So, we set our best minds to work on it, closeted them with attorneys, and invented a way to do it. We're really proud of it (we hope you can tell). Not only is it unique, novel, and unobvious, it's really easy for our members to do. So, we've applied for a patent on a method for making and accounting for purchases tax-deductible to the purchaser.
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