not-for-profit
audits, reviews and compilations; tax; business advisory
Abstract:
Under a bill passed by both the U.S. House of Representatives and Senate, taxpayers who make donations for Haitian earthquake victims would be able to write off this charitable deduction when they file their 2009 taxes this spring (rather than on their 2010 returns). This new bill will allow donations made by the end of February 2010 to be deducted on 2009 returns.
The bill passed the house with no opposition. The Senate approved the legislation by voice vote. A similar law was passed in 2005 for donations to victims of the Indian Ocean tsunami that happened in December 2004.
Without a special law, donors would have to wait until they file their 2010 returns next year to take the deductions.
The quake, which occurred on January 12, killed an estimated 200,000 people in Haiti, left 250,000 injured and made 1.5 million homeless. A powerful aftershock caused even more damage on Wednesday, January 20.