Each year IRS adjusts charitable gift premium rules, tax tables, personal exemptions, standard deductions and other tax provisions. Here are the key charitable figures for 2017 from Rev. Proc. 2016-55, 2016-45 IRB 707.
Charitable deductions not reduced for insubstantial donor benefits—2017 safe harbors. Donors needn’t reduce their charitable deductions when they receive low-cost articles or items of “insubstantial value” under Rev. Proc. 90-12, 1990-1 CB 471 and successor rulings. Reg. §1.170A-13(f)(8). For 2017, a charity can tell a donor that his or her gift is fully deductible if: The donor receives benefits having a fair market value of $107 or 2 percent of the payment, whichever is less; or the donor gives the charity at least $53.50 and receives a low-cost or token item (e.g., a bookmark, mug or T-shirt), which must bear the charity’s name or logo and cost the distributing charity—or the charity on whose behalf the item is distributed—no more than $10.70.
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