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Tax receipt name. Signor on Trust account

  • 1.  Tax receipt name. Signor on Trust account

    Posted 17 days ago
    Hello, 

    A married couple both give to our institution. They asked to have the acknowledgments and tax receipts be in the name of their  Family Trust account (which they are both signers on). Would we be breaking any IRS guidelines, industry best practices, would this be an audit finding if we if we issue the tax receipts in the name of the Family Trust account? 

    Thank you,
    Ghaith Saggaf  


    ------------------------------
    Ghaith Saggaf
    Director, Advancement Operations & Services
    Zaytuna College
    gsaggaf@zaytuna.edu
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  • 2.  RE: Tax receipt name. Signor on Trust account

    Posted 17 days ago
    I would only do this if that is the name that is printed on the check.  Otherwise, you have no proof the funds came out of a separate trust fund.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




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  • 3.  RE: Tax receipt name. Signor on Trust account

    Posted 17 days ago
    Thank You John!


    Ghaith Saggaf  

    Director - Office of Advancement Operations & Services  
    2401 Le Conte Ave, Berkeley, CA 94709 

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