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House Accelerates Deductions For Haiti

From Speaker Pelosi’s website, The Gavel:

House Passes Bill To Accelerate Tax Deductions For Haiti Relief

January 20th, 2010 by Karina

Americans are responding with generosity and compassion to the devastating earthquake in Haiti, donating their hard-earned money and time — which can literally mean the difference between life and death to many Haitians and others struggling through this tragedy and devastation. Today, the House unanimously passed legislation (HR 4462) to provide an immediate benefit for those who have already given and incentive for those who are considering a charitable contribution.

The legislation allows individuals making a charitable contribution after January 11th and before March 1st to victims of the earthquake in Haiti to claim these charitable contributions on their 2009 tax return. Without this change, taxpayers would need to wait until next year to claim a deduction for these contributions on their 2010 tax return. The bill also includes a provision allowing those who text messaged a donation the ability to use a phone bill as proof of donation.

They are changing the rules so that donations made this year can be deducted on 2009 returns.

So if you want more of a good thing — like donations to Haiti — you should lower the taxes on it?

Who knew?

This article was posted by Steve on Wednesday, January 20th, 2010. Comments are currently closed.

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