December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year.
Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning:
Contribute to Qualified Charities
If you plan to take an itemized charitable deduction on your 2012 tax return, your donation must go to a qualified charity by Dec. 31. Ask the charity about its tax-exempt status.