June 28, 2007
Senators Urge IRS to Step Up Scrutiny of Potential Scam Involving Charities
The Senate Finance Committee wants the Internal Revenue Service to step up its investigation of a possible tax scam involving charities that accept donations of a type of property lease.
The agency in May said that it had identified 48 companies whose investors have claimed about $271-million in charitable deductions by using what the IRS calls questionable donations of interest in real-estate leases.
The IRS is looking into all deductions in 2003 and beyond to see if other
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