June 24, 2004
New Rules on Noncash Gifts Advance in Congress
Included in the corporate-tax legislation that the House Ways and Means Committee approved last week were changes in the government rules for donations of cars, intellectual property, and other noncash items. The provisions are aimed at preventing individuals and companies from taking overly generous deductions for their noncash donations.
Many charities have expressed concern about the provisions, especially the one involving car donations. The bill would require people who donate a
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