A few days ago in a email news item I made the distinction that the Haiti disaster is now a qualified disaster according to the IRS (http://www.irs.gov/newsroom/article/0,,id=218615,00.html).
And I mentioned in that email, there are rumors that said people are able to make a deduction for donations to Haiti on this year’s (2009) tax return - instead of having to wait until you do your 2010 tax return. Certainly this would be quite an reason to donate for people who wanted to donate a part of their wealth to the people of Haiti to help them get back on their feet! Are you feeling the pressure of today’s taxes? Right now you can get $100 off your tax return for Cary NC Tax Prep needs!
As it turns out, the suggestions I was hearing and that you possibly have read are TRUE! On January 22nd, the IRS adopted a certain tax relief provision that will allow donations for the Haiti disaster made after January 11, 2010 and before March 1, 2010, will be taken from your 2009 tax return. Or, you could choose to take the deduction to your 2010 tax return instead, just in case you didn’t desire to take advantage of the great incentive to help the world community.
The inhabitants of Haiti are hurting very badly. These kinds of disasters are completely unavoidable, and are well, disastrous. Earthquakes and other forms of natural disaster cause vast amounts of destruction and widespread loss of homes. Entire families do not have access to food or clean water. In many cases these families do not even have any sort of stable living environment without the help of relief organizations (funded by donators like you!). Do your part right now and donate whatever you can to help the people of Haiti. I would certainly appreciate the added effort, and I’m sure all of the struggling people in Haiti would appreciate it to!
Stay tuned for more articles and information regarding tax season, taxes, and Haiti!