Once more, the undying and ever triumphant spirit of solidarity surfaces as the hub of a true symbiotic result: the donation of cars in an effort to raise funds that are funnelled towards the building of decent and affordable houses for families in need. You’ll find the process of donating to be an extremely easy one, after you have become acquainted with the facts on Habitat for Humanity car donation.
The car donation fund raising method for this purpose, sets itself apart, because all proceeds go to your local Habitat for Humanity car donation program, as oppose to a percentage predetermined by other donation agencies. Therefore, if you decided to donate, you would not experience any hesitant feelings or qualms that had previously crossed your mind about contributing your vehicle to a charity, for this is a genuine cause.
The Habitat for Humanity car donation program only requires the ownership title, lien release, registration, social security number (as per IRS requirement) and the vehicle identification number (VIN), as well as the keys. Other vehicles, aside from cars, are totally acceptable. You may donate, vans, campers, snowmobiles, motorcycles, boats and more. Moreover, they are willing to defray all towing expenses, provided that the value of the intended car donation surpasses the cost of the towing services.
Be advised that the appropriate charitable organization must be selected, in order to have it approved by the IRS; otherwise your car donation would be void for tax deduction purposes; which fortunately, would not be the case of Habitat for Humanity Car Donation. Hence, in order to have everything running smoothly, we confidently recommend you to adhere to a list of qualified organizations the IRS provides.
Said organizations may be found in the annual IRS Publication 78, Cumulative List of Organizations; and it is also accessible online at www.irs.gov/eo . In addition to being qualified, all charities must send a notice stating the amount of the winning bid after your car is auctioned.
This, by all means, is very important to expedite your tax deduction claim. The notice, or written acknowledgement, must render a clear description of services or gifts provided, if any, in exchange for a car donation. Once all this is done, you may rest assured that your claims would not be considered as purposely understated, nor overstated by the IRS.
Related Links:
Car Donation Rules
Car Donation Salvation
November 19, 2007