Saturday, March 22, 2008

IRS Publication - Gift To Reduce Debt Held by the Public

Good information if you want to help reduce the National Debt. Gifts to Reduce the Debt Held by the Public ARE tax deductible. A contribution in 2008 will be tax deductible in 2009. See instructions below:

From IRS Publication 17 (2007 Tax Year)
Gift To Reduce Debt Held by the Public

You can make a contribution (gift) to reduce debt held by the public. If you wish to do so, make a separate check payable to “Bureau of the Public Debt.” Send your check to:

Bureau of the Public Debt
Department G
P.O. Box 2188
Parkersburg, WV 26106-2188.

Or, enclose your separate check in the envelope with your income tax return. Do not add this gift to any tax you owe.

You can deduct this gift as a charitable contribution on next year's tax return if you itemize your deductions on Schedule A (Form 1040).

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