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The Tax Court disallows charitable deductions and imposes accuracy-related penalties for failure to substantiate equipment donations

Proskauer Rose LLP
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USA
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May 7 2010

The Tax Court disallowed a couple's charitable deductions and imposed accuracy-related penalties after finding they did not properly substantiate the contributions or provide contemporaneous written acknowledgements of their medical equipment donations

Income tax deductions for charitable donations may be denied without a qualified appraisal Mohamed v. Commissioner, T.C. Memo 2012-152

Proskauer Rose LLP
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USA
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September 10 2012

Obtaining a qualified appraisal is an essential requirement for claiming an income tax deduction for charitable donations of property worth more than $5,000

Private Letter Ruling 201236022 (09112012)

Proskauer Rose LLP
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USA
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November 15 2012

In this PLR, the Internal Revenue Service ("IRS") ruled that amounts paid to charities from the residue of the decedent's estate pursuant to a settlement agreement qualified for the charitable deduction for federal estate tax purposes because the charities had an enforceable right under state law to receive a portion of the residuary estate due to the undue influence by the drafting attorney (who was also a beneficiary

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The Tax Court disallows charitable deductions and imposes accuracy-related penalties for failure to substantiate equipment donations

Income tax deductions for charitable donations may be denied without a qualified appraisal Mohamed v. Commissioner, T.C. Memo 2012-152

Private Letter Ruling 201236022 (09112012)

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