TAX DEDUCTIBLE CAR DONATIONS

Facts about tax deductible car donation

Car donations have become one of the most efficacious fund raising methods among charitable organizations, and they are inherently related to federal tax returns as well. Therefore, we deem it pertinent to advise you on some useful facts about tax-deductible car donations.

First and foremost, the selection of the charity is imperative; for in the eyes of the IRS, there are certain organizations that are not worthy of your generosity, and if they are not approved by said federal entity, your tax- deductible claims on a donation made to the wrong organization may be void.

In order to avoid this pitfall, you should adhere to an annual list of organizations the IRS provides, and by which you may choose a charity that is qualified in terms of receiving tax deductible car donations. Such list is found in the IRS Publication 78, Cumulative List of Organizations, and may easily be accessed online at www.irs.gov/eo.

However, not all organizations need to have the validation of the IRS to qualify as a tax deductible donation entity. As a mater of fact, those with religious affiliations, such as temples, churches, synagogues, and mosques are not compelled to seek said approval; and hence, they might not appear on the list of qualified organizations.