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Bad Santa? Taxpayers overestimate charitable giving, get undeserved tax refunds

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Hundreds of thousands of taxpayers may be overestimating the value of noncash donations to charitable organizations, and wrongly receiving a tax refund based on that overestimate, but the Internal Revenue Service isn’t sure because it hasn’t been enforcing reporting requirements. A new report from the Treasury Department found over $1 billion in problematic tax refunds in 2010 alone. “Taxpayers...

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