IRS Warns of Questionable Deductions for Donated Vehicles: "Internal Revenue Service officials announced today that the IRS will not recognize certain deductions that taxpayers may be claiming relating to donated vehicles sold at auction.
IRS officials took this step after becoming aware of questionable practices that have surfaced recently. Some charities have sold donated vehicles at auction and claimed that the sales are to needy individuals at prices significantly below fair market value. "
Tuesday, December 20, 2005
IRS Warns of Questionable Deductions for Donated Vehicles
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