Re: Closing the GNOME BitPay account

[Justin Maxwell <justin maxwell tibit com>]

I'm curious about this also.  

IANAL, and we're in the UK, but this is relevant to what we do (microdonations disbursed to recipients over bitcoin).  In all my digging through US IRS documents (so much fun!) I've never found anything to substantiate the requirement to know the source of donations if the donor isn't claiming a tax deduction.  (There are rules around donations of vehicles, IP, land, anything where the donor gets something in return, etc etc etc)

But this also isn't the first time a 501(c)(3) has said they can't accept bitcoin due to this.

It would be really nice to get a link to an authoritative source on the recording (/reporting) requirements for 501(c)(3) unencumbered cash (and cash-like) donations.

Cheers,

  --Justin Maxwell

On 22 August 2016 at 14:01, Tobias Mueller <muelli cryptobitch de> wrote:

Hi.

On Mon, Aug 22, 2016 at 02:13:55PM +0200, Alexandre Franke wrote:
> The issue has nothing to do with currencies. The problem is that as a
> 501(c)(3) we need to know where our donations come from
Interesting. Do you have a source for that?
>From what I know you only need to report "substantial" contributors to the IRS.

I bet it'd be interesting to other 501c3s like Mozilla <https://wiki.mozilla.org/Ways_to_Give#Bitcoin>,
Tor <https://www.torproject.org/donate/donor-faq.html.en>, or the handful pages
of Google results for "501c3 anonymous donation bitcoin".

Cheers,
  Tobi

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