Article Date:
September 2006

Word Count:



New Law Attacks and Changes Many Charitable Deductions

Benjamin Franklin said, “In this world nothing can be said to be certain, except death and taxes.” We agree—with one modification: Death does not get worse when lawmakers get together.


The lawmakers did it again! They made taxes worse! With the new pension law (P.L. 109-280), claiming a charitable contribution just got more difficult and more demanding. This article gives you the details and explains what you need to do now regarding the



new rules on receipts for charitable deductions;


new, stiffer rules on charitable deductions for clothing and household item deductions;


new, lower thresholds that increase the chances that you, your estate, and your appraiser could face penalties if appraised values are too high or too low;


new disallowance of safari, travel, and other costs of hunting, killing, and stuffing animals to produce charitable deductions;


new rules that change the requirements for donating ... Log in to view full article.

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