Sen. Grassley Expected To Propose Tax Bill Provisions Limiting Charity Write-Offs

"…Senate Finance Committee Chairman Charles E. Grassley (R-Iowa) is expected to propose amendments to the tax-reconciliation bill — set to go to the Senate floor this month — that would limit a number of charitable write-offs.

One proposal would tighten rules on appraisals of non-cash charitable donations, such as art, land and closely-held stock.  Another would limit deductions for donations of easements that protect the outward appearance of historic buildings, Senate aides said this week.

And those who donate clothing and household goods to charities will no longer be able to guess at their value.  Under a Grassley proposal, they would have to consult a guide, to be published by the Internal Revenue Service, to determine the value of the items."  – "Tax-Bill Provisions Would Limit Charity Write-Offs," The Washington Post (Nov. 6, 2005).

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