New law increases deduction limit for corporate cash contributions for disaster relief

New law increases deduction limit for corporate cash contributions for disaster relief; IRS provides recordkeeping relief https://www.irs.gov/newsroom/new-law-... https://accountinginstruction.info/ WASHINGTON — The Internal Revenue Service today explained how corporations may qualify for the new 100% limit for disaster relief contributions and offered a temporary waiver of the recordkeeping requirement for corporations otherwise qualifying for the increased limit.

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New law increases deduction limit for corporate cash contributions for disaster relief

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