Metropolitan Digital

Google


.

Crowdfunded generosity isn’t taxable – but IRS regulations haven’t kept up with the growth of mutual aid

  • Written by Shelly Tygielski, Doctoral Student in Philanthropic Leadership, Indiana University
Crowdfunded generosity isn’t taxable – but IRS regulations haven’t kept up with the growth of mutual aidCharitable crowdfunding is on the rise, but the IRS hasn't caught up yet.wassam siddique/iStock via Getty Images Plus

Have you ever received some money through a GoFundMe campaign or Venmo or CashApp transfers after a medical emergency, natural disaster or other crisis?

If so, you may have also gotten an unwelcome surprise: a federal tax form that...

Read more: Crowdfunded generosity isn’t taxable – but IRS regulations haven’t kept up with the growth of...

More Articles ...

  1. Picky eating starts in the womb – a nutritional neuroscientist explains how to expand your child’s palate
  2. What is Bluetooth and how does it work?
  3. How transparent policies can protect Florida school libraries amid efforts to ban books
  4. Algorithms that customize marketing to your phone could also influence your views on warfare
  5. Colleges face a choice: Try to shape AI’s impact on learning, or be redefined by it
  6. Michelangelo hated painting the Sistine Chapel – and never aspired to be a painter to begin with
  7. How Homeland Security’s subpoenas and databases of protesters threaten the ‘uninhibited, robust, and wide-open’ free speech protected by Supreme Court precedent
  8. Meekness isn’t weakness – once considered positive, it’s one of the ‘undersung virtues’ that deserve defense today
  9. Why Stephen Colbert is right about the ‘equal time’ rule, despite warnings from the FCC
  10. As war in Ukraine enters a 5th year, will the ‘Putin consensus’ among Russians hold?