Write-Offs

July 22, 2004 | Read Time: 1 minute

The Congressional Budget Office estimates that charitable bequests will fall 22 percent through 2010 as a result of the estate-tax repeal. The tax is being gradually phased out until 2010, when it will be fully repealed for one year. After 2010, without new legislation, the tax would be restored. The budget office’s report is based on new estate-tax filing data from 1999 and 2000. It is available online at http://www.cbo.gov/tech.cfm.
The IRS has published advice for charities that accept car donations, and tips for donors who have cars to give away. The publications are available online at http://www.irs.gov/charities/index.html.