In a recent email news post I made the distinction that the Haiti disaster is currently a qualified disaster says the IRS (http://www.irs.gov/newsroom/article/0,,id=218615,00.html).
I said in the email that there are rumors that said people would be able to make a deduction for contributions to Haiti on this year’s (2009) tax return - instead of having to wait until you do your 2010 tax return. Certainly this could be quite an incentive for people who desired to donate a part of their wealth to the people of Haiti to assist them in getting 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 Preparation needs!
As it turns out, the suggestions I was hearing and that you may have heard are TRUE! On January 22nd, the IRS adopted a special tax relief policy that allows 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 can choose to take the deduction to your 2010 tax return instead, just in case you did not want to take advantage of this wonderful incentive to assist those in need.
The inhabitants of Haiti are hurting very badly. Earthquake disasters are totally unavoidable, and are well, devastating. Earthquakes and other forms of environmental disaster cause huge levels of destruction and widespread loss of homes. Entire families are without food or clean water. In most cases these families don’t even have the capability to acquire any level of stable living environment without the assistance of other countries’ efforts (funded by donators like you!). Do your part right now and donate whatever you can to assist the people of Haiti. I would certainly appreciate the extended donations, 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!