|
|
|
Car Donation information
WASHINGTON — Internal Revenue Service officials today announced the release of two new publications dealing with car donations as part of an effort to help taxpayers avoid potential pitfalls when they donate automobiles to charities.
The first publication, Publication 4302, “A Charity’s Guide to Car Donations,” addresses issues that charities need to know to properly operate car donation programs. The second publication, Publication 4303, “A Donor’s Guide to Car Donations,” is focused on individuals who make such donations.
"We want people and the charities to make sure they are taking the proper steps involving vehicle donations,” said IRS Commissioner Mark W. Everson. ”Supporting charitable activities through tax deductible contributions is an important element of tax law and serves the national interest. But we encourage people to proceed carefully when donating vehicles. There are instances where the donations may provide little benefit to the charity."
For a taxpayer, the appeal of a car donation is simple: Unload an old car, help a worthy cause and take advantage of tax provisions designed to support the generosity of Americans. Taxpayers who itemize their deductions may be able to claim a charitable contribution for the cars they donate to charity. The deduction may not exceed the fair market value of the car.
In recent years, the number of car donation programs has increased dramatically. This growth, however, has taken place without taxpayers and charities always understanding their obligations under tax law.
Both publications were written in conjunction with state charity officials, as part of an ongoing effort by state and federal officials to work together to educate taxpayers and charities.
Publication 4302, A Charity’s Guide to Car Donations, provides descriptions of several different car donation programs, filing and disclosure requirements for charities operating these programs and related information. Included among the description of vehicle donation programs is an example of an arrangement that would fail to preserve the deductibility of a contribution.
Publication 4303, A Donor’s Guide to Car Donations, reminds taxpayer that they need to make sure they are donating their vehicle to a qualified organization, receive a written acknowledgement from the charity, keep records and properly assess the fair market value of their vehicle.
Both publications are intended to assist individual taxpayers and those operating car donation programs to comply with tax law.
Related Items:
Pub. 4302 — A Charity’s Guide to Car Donations (PDF 165K)
Pub. 4303 — A Donor’s Guide to Car Donations (PDF 179K)
Source: Internal Revenue Service IRS. gov (Department Of The Treasury)
Latest car donation in indianapolis news
 Bleacher Report | Midseason IRL Rankings: Does Your Driver Make the Grade? Bleacher Report, CA - Although this team is a single car operation, Hunter-Reay looks to be getting strong equipment, strong enough to warrant a top rookie finish at Indianapolis ... |
Alex Rodriguez ‘Very Depressed’ Over Not Being Able To See Daughters Access Hollywood - Nicole and Joel ask for your donation to UNICEF to help save the people in Myanmar who have been displaced by a deadly cyclone. For more information goto ... |
Social briefs -- July 5, 2008 Reporter-Times, IN - Award-winning accoustic singer/songwriter Luke Austin Daugherty, formerly of Mooresville, will perform in Indianapolis on Saturday, July 12, in an acoustic ... |
Useful car donation in indianapolis resources
|
Donate Car For Charity - Your Car Donation in Indianapolis ... Donations of used cars, boats, and trucks can benefit a not-for-profit charity organization! http://www.donate-car-for-charity.com/ |
|
Donate Car Indiana Car Donations Indiana Vehicle Donation Ind ... Indiana Car Donations. Help Others with Your Vehicle Donation. ... Please donate your car/truck/rv/trailer even if it is not in running condition. ... http://www.prayer.la/ |
|
Car Donation West Virginia WV donate car West Virginia donation WV Car Donation in West Virginia - is fast and easy. Fast Free Pickup anywhere in ... Indianapolis, Indiana (IN). Mt. Morris, Pennsylvania (PA) Pittsburg, PA ... http://www.givecars.com/ |
|
Donate Car Indianapolis - Free Hotel with IN Car Donation Donate your car to charity with Kars4Kids and receive a tax deduction and a free vacation! We offer free nationwide pickup for car donations. http://www.kars4kids.org/ |
|
Car Donation Charity Indianapolis, Indiana (IN). Car Donation Charity Indianapolis From The Child Abuse Hotline Dot Com. When you donate your used car, truck, SUV or other valuable property, ... http://www.thechildabusehotline.com/ |
|
Junk Car Removal, Indianapolis, Indiana, IN, SuperPages, Yellow Pages Junk Car Removal in Indianapolis ... Don't trade or junk your car or truck, donate it to 1 of 250 charities and receive a tax deduction. No Cost. No Hassle. ... http://www.superpages.com/ |
|
Car Donation Indiana IN donate car in Indiana donation IN Car Donation in Indiana - IN is fast free and efficient. ... Indianapolis, IN Columbus, OH Lexington, KY Lawrenceburg, KY Chicago, IL Bartlett, IL ... http://www.givecars.com/ |