AQS about Bill in Senate
This is a message I got sent to me from American Quilter's Association about
a new bill that might be passed. I thought some of you might be interested. It is about filing your taxes and what you can claim as donations. Here it is Artists Fair Market Deduction Act There is legislation before the U.S. Congress that directly impacts quilters and their art. The U.S. Senate has passed bill #S2020. This bill includes a provision that allows artists (quilters) who donate their work to take a fair-market-value tax deduction for the donated work. At present, the tax code only allows a deduction for the cost of materials in the making of the quilt. The corresponding U.S. House Bill #4297 does not include the Artists Fair Market Deduction at this time. Both bills contain other items that support and control donations and appraised values. To find out more about the bills, visit Independent Sector at www.independentsector.org or the Senate Finance Committee at www.finance.senate.gov. We are asking quilters to become involved. The passage of the Artists Fair Market Deduction Act impacts quilters and their works. To find out how to reach your Senator, visit www.senate.gov, or for your House Representative, visit www.house.gov/writerep. Let your voice be heard. She in PA |
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