Which of the following is unnecessary to allow an accrual-method calendar year corporation to deduct charitable contributions before actually paying the contribution to charity?
A)Approval of the payment from the board of directors.
B)Approval from the IRS prior to making the contribution.
C)Payment made within three and one-half months of the tax year end.
D)All of the choices are necessary.

Question

Which of the following is unnecessary to allow an accrual-method calendar year corporation to deduct charitable contributions before actually paying the contribution to charity?
A)Approval of the payment from the board of directors.
B)Approval from the IRS prior to making the contribution.
C)Payment made within three and one-half months of the tax year end.
D)All of the choices are necessary.

Quizplus · Accepted Answer

Approval from the board of directors (A) and making the payment within three and one-half months of the tax year end (C) are necessary for a corporation to deduct charitable contributions before actually paying the contribution to charity. However, approval from the IRS prior to making the contribution (B) is not necessary.

Which of the Following Is Unnecessary to Allow an Accrual-Method Calendar