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Posted by D. Stussy on December 20, 2007, 8:34 am
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> D. Stussy wrote:
> >> Just saw a story on FNN about charities tossing away perfectly good
toys
> >> donated for Christmas time. Of course the donors get the tax deduction
> >> because the toys are in "good" condition as IRS now mandates.
> >>
> >> Trouble is, these are new toys made in China and contain lead based
> > paints.
> >> Next thing you know the tax law will be changed to add to the "good"
> >> condition requirement that all items be environmentally safe.
> >
> > That's interesting: A deduction for the donation of HAZARDOUS
MATERIALS!
> > Technically, isn't that also tax fraud?
> >
> How could that be considered tax fraud? Where is it written in the IRC?
> (It's the thought that counts! grin)
IRC 6662 or 6663: Well, it's clearly at least an overvaluation if not
fraud. There is no FMV as a toy for the object - just hazardous disposal
costs.
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