Speakeasy forum

General discussion

New law will damage Clinton's charitable deductions...

by Edward ODaniel / August 19, 2006 12:35 AM PDT
http://www.washingtontimes.com/national/20060818-113944-8022r.htm

No more castoff donations for a tax write-off
By Joyce Howard Price
THE WASHINGTON TIMES
August 19, 2006


Most old clothing, furniture, appliances, electronics and other household items donated to charity must be in ''good used condition or better'' to qualify for a tax deduction under new federal legislation signed by President Bush this week.

This means many old toasters, televisions, stereos, phones or computers given to charity that work erratically or not at all can no longer be claimed for federal tax deductions.

Maj. Todd Hawks, national public affairs secretary for the Salvation Army, the nation's largest charity, said the changes will make charities and donors better stewards of contributions.

''At this time, we spend millions on handling and discarding items that are not useful,'' he said, adding that the money could be better spent helping the needy.

The new rules are included in the federal Pension Protection Act of 2006, which Congress enacted before its current recess and Mr. Bush signed into law Thursday.

''What Congress is saying now is that if you give junk to charity, you shouldn't write it off,'' said an IRS official, who asked not to be identified.
...
Discussion is locked
You are posting a reply to: New law will damage Clinton's charitable deductions...
The posting of advertisements, profanity, or personal attacks is prohibited. Please refer to our CNET Forums policies for details. All submitted content is subject to our Terms of Use.
Track this discussion and email me when there are updates

If you're asking for technical help, please be sure to include all your system info, including operating system, model number, and any other specifics related to the problem. Also please exercise your best judgment when posting in the forums--revealing personal information such as your e-mail address, telephone number, and address is not recommended.

You are reporting the following post: New law will damage Clinton's charitable deductions...
This post has been flagged and will be reviewed by our staff. Thank you for helping us maintain CNET's great community.
Sorry, there was a problem flagging this post. Please try again now or at a later time.
If you believe this post is offensive or violates the CNET Forums' Usage policies, you can report it below (this will not automatically remove the post). Once reported, our moderators will be notified and the post will be reviewed.
Collapse -
Should have already been understood without
by Steven Haninger / August 19, 2006 12:56 AM PDT

needing to be written into tax code. I have to think other suspect write offs occur such as businesses that give phony "trade in" discounts and donate those goods to charity rather than dispose of them in the trash.

Collapse -
Are you suggesting that
by duckman / August 19, 2006 2:30 AM PDT

Bill's old drawers are less than ''good used condition or better'' ?

Collapse -
How is the IRS to determine that?
by Diana Forum moderator / August 19, 2006 9:07 PM PDT

Once the TV is given to the Salvation Army in January and it's claimed as working in April of the next year, how are you or the IRS going to prove or disprove it was working?

Diana

Collapse -
They will do audits of
by duckman / August 19, 2006 9:10 PM PDT

recent donations and hold the people who accepted the donation responsible. That way, they won't accept or over value the item

Collapse -
They don't value the item
by Diana Forum moderator / August 19, 2006 9:13 PM PDT
In reply to: They will do audits of

When I give things to the Rescue Mission, I just get a signed sheet of paper. I list the itmes and decide the value of the items.

Diana

Collapse -
(NT) (NT) Does the new law change that ?
by duckman / August 19, 2006 9:47 PM PDT
Collapse -
Don't know, but ...
by Bill Osler / August 19, 2006 9:12 PM PDT

The IRS will probably find a way to put some sort of burden of proof on folks. They're like that.

Maybe they will start requiring statements from the charity about the usability of gifts valued at more than $xx. They take a similar approach with receipts for large contributions. You have to have the receipt before you claim the deduction if the gift is over something like $250.

Popular Forums
icon
Computer Newbies 10,686 discussions
icon
Computer Help 54,365 discussions
icon
Laptops 21,181 discussions
icon
Networking & Wireless 16,313 discussions
icon
Phones 17,137 discussions
icon
Security 31,287 discussions
icon
TVs & Home Theaters 22,101 discussions
icon
Windows 7 8,164 discussions
icon
Windows 10 2,657 discussions

CNET FORUMS TOP DISCUSSION

Help, my PC with Windows 10 won't shut down properly

Since upgrading to Windows 10 my computer won't shut down properly. I use the menu button shutdown and the screen goes blank, but the system does not fully shut down. The only way to get it to shut down is to hold the physical power button down till it shuts down. Any suggestions?