Parallel Bills have been introduced in the House and Senate to limit income tax deductions for charitable contributions of patents and similar property by requiring a “qualified appraisal.” S2103 H3867
Michigan State University provides some details for giving a charitable contribution of intellectual property as does giftlaw.com. Janal Kalis provides a story on changes made at the IRS regarding patent donations. According to the story, the IRS is cracking down because corporations were claiming greater donations than they were entitled to. Nipper provides more information and a link to the Intellectual Property Owners (IPO) commentary. The IPO has sent an open letter to Senator Grassley opposing the Bills.