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Article: TAX REPORTS | USED-CAR DONATIONS | COMPLEXITY AIDS TAX
- Article from:
- The Beacon News - Aurora (IL)
- Article date:
- May 30, 1999
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Copyright informationCopyright (c) 1999 The Beacon News. (Hide copyright information)
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draw IRS concern
IRS officials say there are signs that some taxpayers may be claiming wildly inflated deductions for gifts of what essentially are junk heaps.
Marcus Owens, IRS director of the exempt-organizations division, says "my favorite advertisement" on the subject appeared in a Maryland newspaper. The ad, asking for gifts, says the used car "doesn't even have to run or have a motor!! Just four tires on it so it can be towed if necessary and get full Blue Book value."
Owens says he plans to issue a memorandum soon alerting IRS field offices to "some of the potential problems" with certain programs run by charities and recommending that "appropriate audit action be taken." Both ...