Is an annual contribution receipt required by law?
I understand that it is a good idea for members to receive a giving receipt at the end of the year for their cash donations, but our newly started church doesn't have the office manpower to issue contribution receipts to over 200 people. We are just starting out and our office/computers aren't updated yet. It would take hundreds of hours to issue itemized receipts to 200 people.
Would it be ok, by IRS law, if we announced to the congregation that if anyone needed an annual receipt then we would issue them one, and those who do not ask for one will not receive a receipt (but just keep them on file for our own records)?
Also, when giving these annual receipts, do they HAVE to be itemized or can they just be the total sum given for the year for each contributor?
Thanks for any input on this in advance!
Vickey> I'm praying for you and your husband too!
Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!