McLaughlin Quoted in Bloomberg BNA

Nancy McLaughlin, Professor of Law at the University of Utah S.J. Quinney College of Law, was recently quoted in Bloomberg Bureau of National Affairs article regarding a case that underscores the importance of correctly documenting gift letters.

In the article, which deals with a U.S. Tax Court opinion upholding the IRS’s disallowance of $4.5 million of charitable donation deductions, McLaughlin said, “It looks like from this case, if a donee makes an error or comes up with an incorrect value for something, or leaves something out, it could be deemed not a valid gift letter and the entire deduction will be denied. That’s a pretty stiff penalty.”

To read the entire Bloomberg article, click here.