Tuesday, December 28, 2004

Sioux County Index Reporter News

Sioux County Index Reporter News: "Grassley takes stand
against 'facade easements'
WASHINGTON, D.C. � Sen. Chuck Grassley, chairman of the Committee on Finance, and Sen. Max Baucus, ranking member, recently said they plan to put forth legislation early next year that would� increase and create additional fines and penalties on promoters, taxpayers and appraisers who participate, aid or assist in the donation of facade easements found to be significantly overvalued.� �
'A recent series in The Washington Post provided chapter and verse of how individuals are inflating the value of donated 'facade easements' to save thousands of dollars in taxes,' Grassley said.� 'It's very discouraging to find yet another example of snake oil salesmen misusing tax-exempt status and abusing the tax laws intended to encourage charitable giving, all for the purpose of making a fast buck. Unfortunately the snake oil salesman are conning many well-intentioned homeowners into this newest scam. "

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