With each day leading up to April 15, more tax returns are getting filed with federal and state agencies. Individuals hopng to maximize their deductions are looking to their nonprofit donations from the prior year. Only those donations with a corresponding US Tax ID Number can be verified with the nonprofit's records and the donation amount. Nonprofit organizations should include their Tax ID Number with all of their communications, including web pages, newsletters, brochures, mailings, business cards, email, and receipts. Publishing this number makes it easier for contributors come tax time.

Donors

If you do not have the US Tax ID Number of your charitable contributions, you can look up this information. GuideStar and MelissaData are websites that display basic information about the US nonprofit, including contact details, and filing data. GuideStar also allows you to review the nonprofit's 990 filings, allowing you to see their income and disbursements, how much money the board members make from running the nonprofit, if any, and other key financial information required for filing their tax return. Interestingly, these websites provide more tax information than the IRS website itself.

Nonprofit Business Owners

Those looking to start up a nonprofit, should research the benefits of forming a nonprofit corporation. Benefits include tax exemption from federal income tax, grant eligibility for public and private grants, offering tax-deductions to donors, possible exemptions from property taxes, among others. Go to your state's local Small Business Administration website for more information and forms to set up your business, and seek the advice of an accountant as needed.