TITUS APPLAUDS IRS APPROVAL OF LAS VEGAS VICTIMS FUND 501 (C) (3) STATUS

Nov 29, 2017
News

Washington, D.C. – Today Rep. Dina Titus of Nevada’s First Congressional District applauded the IRS’ decision to grant the Las Vegas Victims Fund 501 (C) (3) status and allow the non-profit’s donors to deduct contributions from their taxes.

“In the minutes and days following the 1 October tragedy, the world witnessed the tight-knit bonds in our neighborhoods, brave first responders working without fear, and the good Samaritans on every corner who acted without hesitation in Las Vegas. Not every selfless gesture will be recognized or commemorated. Not every hero will be known. But we must do our best to shine a light on the work that’s being done to help Las Vegas heal. I applaud the IRS for recognizing the generosity and perseverance of our community and working with my office to help victims and their families in any way possible.”

BACKGROUND

On Monday, the IRS granted 501 (C) (3) status to the Las Vegas Victims Fund and determined that under the Internal Revenue Code (IRC) Section 170 donors can deduct their contributions from their taxes. In addition, the Las Vegas Victims Fund will also be qualified to receive tax deductible bequests, devises, transfers, or gifts under IRC Section 2055, 2106, or 2522.   

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