Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are Timebank Hours taxable?

hours taxable timebank
0
Posted

Are Timebank Hours taxable?

0 CommentsAdd a Comment

1 Answer

0

The IRS has determined that 1) because an hour is always an hour, regardless of what is offered, 2) because they are backed only by a moral obligation and 3) because they are intended for a charitable purpose, Timebank Hours are not taxable.

0 CommentsAdd a Comment

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.