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Tax Guru-Ker$tetter Letter
Wednesday, June 30, 2004
 
IRS Guidance On Charitable Donations
Interesting news from the IRS Press Room


Treasury and IRS Issue Notice Regarding Improper Deductions for Conservation Easement Donations - I haven't personally encountered any of these issues; but I have heard of these kinds of overly creative games being played with values of easements donated to charities.


New Publications Focus on Car Donations - This is more guidance for both charities and donors on an issue I have encountered and discussed on several occasions. As I've always said, people claiming charitable deductions for their beat-up vehicles based on inflated Kelly Blue Book prices are wrong. Fair market value is what an unrelated buyer would actually pay for the vehicle, and not some theoretical book value based on a condition very different from reality.




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