IR-2004-84, June 29, 2004
NEW PUBLICATIONS FOCUS ON CAR DONATIONS
WASHINGTON - Internal Revenue Service officials today announced the
release of two new publications dealing with car donations as part of an
effort to help taxpayers avoid potential pitfalls when they donate
automobiles to charities.
The first publication, Publication 4302, "A Charity's Guide to Car
Donations," addresses issues that charities need to know to properly
operate car donation programs. The second publication, Publication 4303,
"A Donor's Guide to Car Donations," is focused on individuals who make
such donations.
"We want people and the charities to make sure they are taking the proper
steps involving vehicle donations," said IRS Commissioner Mark W. Everson.
"Supporting charitable activities through tax deductible contributions is
an important element of tax law and serves the national interest. But we
encourage people to proceed carefully when donating vehicles. There are
instances where the donations may provide little benefit to the charity."
For a taxpayer, the appeal of a car donation is simple: Unload an old car,
help a worthy cause and take advantage of tax provisions designed to
support the generosity of Americans. Taxpayers who itemize their
deductions may be able to claim a charitable contribution for the cars
they donate to charity. The deduction may not exceed the fair market
value of the car.
In recent years, the number of car donation programs has increased
dramatically. This growth, however, has taken place without taxpayers and
charities always understanding their obligations under tax law.
Both publications were written in conjunction with state charity
officials, as part of an ongoing effort by state and federal officials to
work together to educate taxpayers and charities.
Publication 4302, "A Charity's Guide to Car Donations," provides
descriptions of several different car donation programs, filing and
disclosure requirements for charities operating these programs and related
information. Included among the description of vehicle donation programs
is an example of an arrangement that would fail to preserve the
deductibility of a contribution.
Publication 4303, "A Donor's Guide to Car Donations," reminds taxpayer
that they need to make sure they are donating their vehicle to a qualified
organization, receive a written acknowledgement from the charity, keep
records and properly assess the fair market value of their vehicle.
Both publications are intended to assist individual taxpayers and those
operating car donation programs to comply with tax law. Both publications
are available at IRS.gov.
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