§ 6720. Fraudulent acknowledgments with respect to donations of motor vehicles, boats, and airplanes

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Any donee organization required under section 170(f)(12)(A) to furnish a contemporaneous written acknowledgment to a donor which knowingly furnishes a false or fraudulent acknowledgment, or which knowingly fails to furnish such acknowledgment in the manner, at the time, and showing the information required under section 170(f)(12), or regulations prescribed thereunder, shall for each such act, or for each such failure, be subject to a penalty equal to—

(1)in the case of an acknowledgment with respect to a qualified vehicle to which section 170(f)(12)(A)(ii) applies, the greater of—

(A)the product of the highest rate of tax specified in section 1 and the sales price stated on the acknowledgment, or

(B)the gross proceeds from the sale of such vehicle, and

(2)in the case of an acknowledgment with respect to any other qualified vehicle to which section 170(f)(12) applies, the greater of—

(A)the product of the highest rate of tax specified in section 1 and the claimed value of the vehicle, or

(B)$5,000.

(Added Pub. L. 108–357, title VIII, § 884(b)(1), Oct. 22, 2004, 118 Stat. 1634.)

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U.S. Code

§ 170
Charitable, etc., contributions and gifts

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U.S. Code

Charitable, etc., contributions and gifts
§ 170

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Pub. L. 108–357, title VIII, § 884(b)(1)
118 Stat. 1634
section 884(c) of Pub. L. 108–357

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§ 6720

Fraudulent acknowledgments with respect to donations of motor vehicles, boats, and airplanes

U.S.C.×1

U.S.C.§ 170

Pub. L.Pub. L. 108–357, title VIII, § 884(b)(1)

Stat.118 Stat. 1634

Pub. L.section 884(c) of Pub. L. 108–357

Cites 4Cited by 1 across 1 source