|
Obama signs bill to allow a 2009 tax deduction for Haiti relief contributions
President Barack Obama signed the HR 4462 bill to allow for a 2009 tax deduction for relief contributions made to Haiti. Taxpayers making any contributions between January 12 and February 28, 2010 may deduct that amount from their 2009 income tax return.
Individuals, who have already filed, may amend their return to take advantage of the new deduction.
The bill itself states, “Contribution is described in this subsection if such contribution is a cash contribution made for the relief of victims in areas affected by the earthquake in Haiti on January 12, 2010, for which a charitable contribution deduction is allowable under section 170 of the Internal Revenue Code of 1986.”
President Bush signed a similar bill in 2005 to encourage Indian Ocean tsunami relief donations which also allowed taxpayers to deduct cash donations.
|