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IRS Lax Action on Noncash Gifts Costs U.S. $1 Billion, Audit Says

January 17, 2013
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The Internal Revenue Service is so lax in asking taxpayers to prove the value of gifts of art, real estate, cars and other noncash contributions to charities that the federal government may be losing $1 billion a year, according to a new audit by a federal watchdog agency....

 

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