2011 Dirty Dozen Tax Scams According to IRS, will be listed and explained to the informed Tax Payer.
#7 Abuse Of Charitable Organizations and Deductions - IRS Continues to observe misuse of tax -exempt organizations. This abuse includes arrangements to improperly shield income and or Assets from taxes and attempts by donors to maintain control over the donated property or income. This area includes donation of non-cash assets and claim the full value of the donated items on receipts and distribution of non-cash donated assets. The Pension Protection act of 2006 imposes increased penalties for inaccurate or inflated appraisals. It also seeks to set definition of qualified appraisers for tax payers claiming charitable deductions.
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