Author: U.S. House of Representatives, Subcommittee on Government Activities and Transportation

Publication Year: 1982

Media Type: Report

Summary:

Hearings to examine issues relating to deductions from income taxes for contributions of art to museums and other institutions; held in Washington, D.C., August 4, 1983. Includes testimony and statements by government officials and arts leaders and other documentation. The Committee's mandate is oversight only and cannot submit legislation but is able to draft and forward recommendations. The hearing is concerned with three issues: 1) current IRS tax laws which rely on voluntary compliance; 2) inherent ethical standards that apply to all groups involved, i.e. donors, museum curators, art appraisers, and dealers, and the IRS staff - and the methods to enforce these standards; and 3) legislation that may be required to improve the process without generating more layers of impediments.

Abstract: Hearings to examine issues relating to deductions from income taxes for contributions of art to museums and other institutions; held in Washington, D.C., August 4, 1983. Includes testimony and statements by government officials and arts leaders and other documentation. The Committee's mandate is oversight only and cannot submit legislation but is able to draft and forward recommendations. The hearing is concerned with three issues: 1) current IRS tax laws which rely on voluntary compliance; 2) inherent ethical standards that apply to all groups involved, i.e. donors, museum curators, art appraisers, and dealers, and the IRS staff - and the methods to enforce these standards; and 3) legislation that may be required to improve the process without generating more layers of impediments.

Arts & Intersections:

Categories: Legislation, Creative Economies