May 27, 2004
Senate Passes Limits on Charity Write-Offs
The Senate has passed legislation intended to prevent individuals and companies from taking overly generous deductions for their donations of cars, intellectual property, and other noncash items, and to encourage people to report those who make such inflated claims to the Internal Revenue Service.
The provisions were included in an amendment to the Jumpstart Our Business Strength Act (S. 1637) -- popularly known as the Jobs Act -- and were offered by Sen. Charles E.
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