Legislative Update
- Louisa Bowen
Abstract
The Internal Revenue Service is proposing a service to taxpayers who donate valuable property to charitable organizations. The I.R.S. would provide valuations for as many as ten manuscripts, paintings or other works of art for a $3,000 fee so that taxpayers would know exactly how much of a tax deduction would be allowable for their donation before they file their income tax returns. The service, which the I.R.S. is considering for public comment until March 10, would not be available for those taxpayers submitting their returns by the April 17, 1995 filing deadline, but might be available for those taxpayers filing extensions.
How to Cite:
Bowen, L., (1995) “Legislative Update”, MAC Newsletter 22(4), 9.
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