Notification for Intellectual Property Contributions

August 2005
Practical Accountant;Aug2005, Vol. 38 Issue 8, p12
Trade Publication
The article reports that in the notification named "Notice 2005-44" Internal Revenue Service of the United States has described about the proper notification by a donor about qualified intellectual property contribution to charity. The article provides an insight into the information in the written statement that the donor must deliver or mail to the donee, at the time of the contribution. A donor, who contributed qualified intellectual property after June 3, 2004, and on or before June 20, 2005, without notifying the donee that it intended to treat the contribution as a qualified intellectual property contribution, will be regarded as satisfying the notification requirement.


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