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Intangible Property is property that has value but cannot be seen or touched. It includes things such as: goodwill, business books and records, a patent, a license, and a covenant not to compete.

Information on Donated Property (non-cash contributions) for Tax Professionals

Guidelines for Intangibles Under IRC § 263(a)

FS-2015-20, July 2015 — The regulations allow small businesses to change a method of accounting under the final tangible property regulations on a prospective basis for the first taxable year beginning on or after Jan. 1, 2014.

Deductible personal property taxes are based on the value of personal property, such as a boat or car. The tax must be charged to you on a yearly basis, even if it is collected more than once a year or less than once a year.

Under authority of the Internal Revenue Code, the property described here has been seized or acquired for nonpayment of internal revenue taxes and will be sold.

How donors, charities, and tax professionals must report non-cash charitable contributions.

Find out IRS requirements for posting of public notices for pending sales.

Information on Non-Cash Contributions for Donors

Publication 555 discusses community property laws that affect how you figure your income for your federal income tax return if you are married, live in a community property state or country, and file separate returns.