Donate to the Los Angeles Mission through your Paid Time-Off Benefits

To facilitate giving to charities in today’s environment, new guidance has been established by the IRS. As of October 24, 2001, there is a provision to allow people to contribute financially to charitable organizations by converting a portion of their paid time-off (PTO) into a cash donation. The IRS has agreed to lift the penalties associated with this type of giving until January 2003, which means the following:

• Donate Paid time-off (PTO) will NOT be treated as wage income.
• Donated PTO will NOT be designated as income earned on your W-2 statement at the end of the year.
• You will NOT have to pay taxes on the amount you designate as your contribution.

However . . .

• You will NOT be able to claim your PTO contribution as a charitable donation or other loss or deduction for income tax purposes, since you are receiving the above benefits.
  

We encourage you to talk with your company about whether or not they have set up a PTO charitable contribution program for you. It’s an exciting new way to support charities such as the Los Angeles Mission.

Click here to view the News Release from the Department of Treasury explaining this new IRS guideline.