To mitigate the effect of the annual accounting period concept, the tax law permits the carryforward to other years of the excess charitable contributions of a particular year.

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The statement is true. The tax law allows individuals and corporations to carry forward the excess charitable contributions of a particular year to the next year or future years, to mitigate the effect of the annual accounting period concept. This provision provides taxpayers with additional flexibility in managing their tax liability and supporting charitable causes over an extended period.

To Mitigate the Effect of the Annual Accounting Period Concept