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Retroactive Charity Deduction for Haitian Earthquake ReliefIndividuals and businesses will be allowed to take a deduction for donations given to charities providing relief to the victims of the earthquake in Haiti. HR 4462, Haiti Charitable Deduction Bill, was signed into law on January 22, 2010. You can read the full text of the actual bill (don't worry, it's only two pages long). Taxpayers are able to deduct on their 2009 tax returns donations given to charities providing relief efforts in Haiti. Donations of money or property given between January 12 and February 28, 2010, qualify for this retroactive deduction. Thus taxpayers will have the option to deduct these charitable contributions on either their 2009 or on their 2010 return. |
2010 2009 2008 2007 2006 Charles W. Evans is a HAL-PC member and the Magazine’s Reviews Editor who can be contacted at reviews@hal-pc.org |