Car
donation is a hot news item for one primary reason: the
tax deduction you can earn for donating your car can be
excellent, and many people are interested in donating their
car for exactly this reason. And while new, legitimate car
donation programs are still cropping up all over the world,
scams do exist. The
scam artists are frequent targets of local "gotcha"
news reporters who like to hunt them down while their cameras
are rolling. And the
IRS is also cracking down on donors who claim their car
is more valuable than it is when it comes time to do their
taxes, so car donation will likely continue to the topic
of many stories as the year goes on.
Here
are some of the latest stories in the news regarding car
donation:
Car
Donation Programs Threatened by Legislation
Los Angeles Times | Jul 3, 2004 (registration required)
"The Senate legislation has the possibility of ending
car-donation programs," she said. "It's just not
fair to the donor..."
IRS
Posts New Guidance for Car Donations
SmartPros Accounting | Jun 29, 2004
... donate automobiles to charities. In recent years, the
number of car donation programs has increased dramatically.
This growth, however ...
Charities
fear shift in tax law
Akron Beacon Journal | Jun 24, 2004 (registration required)
Auto owners with a mind toward charity -- and tax deductions
-- helped add $274,000 to the annual budget of Goodwill
Industries of Akron last year...Congress, though, may soon
put a dent in the programs run by Goodwill and about 4,000
other charities....
House
Approves New Rules for Noncash Gifts
Chronicle of Philanthropy | Jun 18, 2004
The U.S. House of Representatives yesterday approved changes
in the government rules for donations of cars, intellectual
property, and other noncash items...The bill would require
people who donate a car to obtain an independent appraisal
and would limit their tax deduction to that amount. Under
current law, donors may deduct the fair market value of
a car based on a used-car pricing guide, as long as the
car is worth less than $5,000....
Donate
cars directly to charity
Washington Times | Jun 7, 2004
Many major charities accept donations of used cars, but
there are some pitfalls to be aware of.....
Utah
charity sees 'nightmare' in car donation
legislation
Salt Lake Tribune | May 13, 2004
When the Senate passed a bill Tuesday to eliminate a tax
break for American manufacturers in an effort to head off
punitive foreign tariffs, few work-a-day taxpayers took
notice. ...
Restricting
tax deduction would dry up donated cars
East Valley Tribune | May 10, 2004
Charity car donations have become a popular
way to boost funding for dozens of worthy causes that help
countless needy people. They provide a multimillion-dollar
windfall for private, non-profit assistance organizations
while allowing citizens a break on their taxes. So, naturally,
the Tax Man doesn�t like them one bit. ...
Ministerial
Alliance sponsors drop-off day
Huntington Herald Dispatch | May 7, 2004
The West Huntington Ministerial Alliance is sponsoring another
drop-off day for Good News Mountaineer Garage automobile
donations at Madison Avenue Christian Church on
Saturday, May 15....
Donate
a car, but know the rules
The Salinas Californian | May 1, 2004
The ads are everywhere: Donate your car,
help the needy, get a tax break in return -- everybody wins....
Middlemen
drive Vehicle Donation Industry
Contra Costa Times | April 18, 2004
The ads are everywhere: Donate your car,
help the needy, get a tax break in return -- everybody wins....
Changes
to Car Donation Tax Break Expected
Family News In Focus | April 14, 2004
Giving your vehicle to charity might not be so lucrative
soon...
Charities Worry on Car Donation Crackdown
The Guardian (UK) | Apr 13, 2004
When taxpayers donate a car to charity, it can mean money
for charities and a tax break for contributors...
Father,
son accused of swindling many in fake car donation
San Diego Union Tribune | April 8, 2004
Investigators arrested a father and son yesterday on suspicion
of scamming hundreds, maybe even a thousand people who thought
they were donating ...
American
Autoimmune Related Disease Association Announces Car
Donation Program
Duluth Weekly, GA | Mar 24, 2004 (press release)
The American Autoimmune Related Disease Association (AARDA)
can now accept used car donations through its partner ...
Car
Donations May Hit IRS Roadblock
The Jewish Journal, Los Angeles | Apr 8, 2004
Claims of “highest blue book value” and grandiose
statements about how a car donation will support your favorite
charity are giving way to cautious...
Car
dealership calling on a higher power?
The Dispatch, CA | Mar 26, 2004
Look out Gilroy auto dealers. You’ve got new competition...
SPCA
Employee Under Suspicion of Fraud
KVBC, NV | Mar 25, 2004
Police are looking into a possible case of fraud involving
one of southern Nevada's most popular animal charities.
The SPCA is placing one of its employees on unpaid leave
after allegations of cashing in on a big donation...
IRS
Officials Urge Caution and Care for Those Making a Car
Donation
Internal Revenue Service| Dec. 15, 2003
WASHINGTON � The Internal Revenue Service issued a consumer
alert today to help taxpayers avoid potential pitfalls when
they donate their automobiles to charities...