IRS Lax Action on Noncash Gifts Costs U.S. $1-Billion, Audit Says - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

IRS Lax Action on Noncash Gifts Costs U.S. $1-Billion, Audit Says - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: 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.