New Tax Break for Contributions to Haiti Earthquake Relief
On Jan. 22, President Obama signed into law H.R. 4462 (the Act P.L. 111-126 ), which allows taxpayers to claim a charitable contribution deduction in tax year 2009 for donations made through Mar. 1, 2010, for the relief of victims in areas affected by the Jan. 12, 2010 earthquake in Haiti. This option is available only if the contribution is in cash and otherwise meets the requirements for charitable contribution deductions under Code Sec. 170. For more information on this topic please go to: www.irs.gov/newsroom/article/0,,id=218678,00.html