|
|
|
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 massachusetts news
Both Sides Now: Speaker Moonbeam vs. Gov. Gekko, Con'td. Huffington Post After Romney's Sunshine State primary victory makes him appear to be a near-prohibitive favorite, Kellyanne is asked whether Gingrich will tone down his venomous personal attacks ("conservatives won't vote for a Massachusetts pro-abortion, pro-gun, ... |
Beacon Hill Roll Call Wicked Local REDUCE DRUG ABUSE (S 2122) Senate 36-0, approved and sent to the House a bill aimed at cracking down on the abuse of prescription drugs in Massachusetts. The measure requires all doctors to register with the Prescription Drug Monitoring Program, ... |
Beacon Hill Roll Call Wicked Local Senate 36-0, approved and sent to the House a bill aimed at cracking down on the abuse of prescription drugs in Massachusetts. The measure requires all doctors to register with the Prescription Drug Monitoring Program, a statewide electronic database ... |
Useful car donation massachusetts resources
|
Donate Car Massachusetts to Charity - Vehicle Donation Program Details Donate Cars in Massachusetts, truck, van, boat or RV you will help your favorite charity and receive a tax deduction. DONATE CARS IN MA TO CHARITY TODAY, ... http://www.donationline.com/ |
|
Car Donation Massachusetts MA donate car Massachusetts donation MA ... Tax deductible car donation auto donation donate car donate auto donate vehicle donate ... Donation Massachusetts MA donate car Massachusetts donation MA ... http://www.protestantguild.org/ |
|
Donate Car For Charity - Your Car Donation in Massachusetts ... Donations of used cars, boats, and trucks can benefit a not-for-profit charity organization! http://www.donate-car-for-charity.com/ |
|
Car Donation Charity - donate used car automobile donation Charity used car donation center. Donate a car or any used vehicle and help. Easy, fast, friendly, FREE nationwide car automobile vehicle donation pickup. http://www.givecars.com/ |
|
Massachusetts Adoption Resource Exchange Car Donation Program Page Massachusetts Adoption Resource Exchange exists to find a place to call HOME for special needs children, sibling groups and children who are traditionally ... http://www.mareinc.org/ |
|
Car Donation Massachusetts | Donate Car USA Charity Vehicle Donation Donate Car Charity: Specializing in charity car donation, charity cars, donate your used car, charity car, donating a car, car donation, car donations, ... http://www.donatecarusa.com/ |
|
Massachusetts Attorney General: June 25, 2003 The Office Massachusetts Attorney General Tom Reilly. Consumer Protection ... (5) Any terms or conditions attached to the car donation. ... http://www.ago.state.ma.us/ |
|
Car Donation Massachusetts MA donate car Massachusetts donation MA Car Donation in Massachusetts - MA - locations across the state. Free towing. Fastest service. http://www.givecars.com/ |
|
MSN Money - No more free rides on car donations, SUVs Almost 10 years ago, I donated a car to a Massachusetts charity that advertised in The Wall Street Journal. Six years later, I was visited by a detective ... http://moneycentral.msn.com/ |