Which of the following is not required to allow an accrual-method corporation to deduct charitable contributions before actually paying the contribution to charity for a calendar year-end corporation?
A)Approval of the payment from the board of directors.
B)Approval from the IRS prior to making the contribution.
C)Payment made within three and one-half months of the tax year-end.
D)All of the choices are necessary.

Question

Quizplus · Accepted Answer

Approval from the IRS prior to making the contribution is not required for an accrual-method corporation to deduct charitable contributions before actually paying the contribution to charity for a calendar year-end corporation. However, approval of the payment from the board of directors and payment made within three and one-half months of the tax year-end are necessary for the corporation to claim the deduction.

Which of the Following Is Not Required to Allow an Accrual-Method