Haiti Charitable Tax Deduction Legislation Likely
January 17th, 2010 | Author: RussIn a rare show of bipartisanship, Democrats and Republicans plan on introducing joint legislation to allow Americans to claim a tax deduction for charitable contributions to Haiti earthquake relief in 2009 though the deductions are made in 2010. I expect this legislation to pass by early February.
However, I do not expect conforming legislation to pass in California because of the current budget crisis.
How confident are you that this will pass by February. I guess its not that big of an issue seeing it won’t need to be filed until 2011, but we’re trying to advice our clients on the topic now.
I saw in today’s news that both Republican and Democrat Congressional leaders promise action on this very quickly. I expect passage, at the latest, by early February.