Petition 81481

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Taxable Status (81481-LC-¶259.4e)

Amend ¶259.4e as follows:  
  
Without prejudging the gift’s taxable status, C contributions designated for specific causes and objects shall be promptly forwarded according to the intent of the donor and shall not be used for any other purpose.

Rationale

Some business managers take it upon themselves to interpret the tax code and allow or disallow the donor’s gift to be taxed or untaxed. The judgment of whether a gift is taxed or not should be left up to the IRS to decide --- should an audit be made.