Rebates from purchases made by credit card companies are not income but instead are an adjustment to the purchase price paid for the item or items purchased (Rev Rul 2005-28). The IRS privately ruled (PLR 201027015) that an individual would qualify for charitable deductions for rebates he designates to be paid to charities under a program offered by the credit card company. However, the IRS also concluded the written acknowledgment format proposed by the taxpayer to be used by the charitable organization does not satisfy the Code Sec. 170(f)(17) record keeping requirements.