Write-Offs:

By Elizabeth Schwinn

• The Internal Revenue Service has published two new brochures to help charities understand the laws governing tax-exempt status. One is designed to help prospective charities apply for a tax exemption. The other explains the requirements for charities to keep records, file returns, and make public disclosures. Publication 4220, “Applying for 501(c)(3) Tax-Exempt Status,” and Publication 4221, “Compliance Guide for 501(c)(3) Tax-Exempt Organizations,” are available online at http://www.irs.gov.
• The IRS has updated the standard mileage rates for costs incurred in 2004. The rate for computing the charitable deduction for use of an automobile next year will be 14 cents per mile.