This bill, titled H.R.4462 to accelerate the income tax benefits for charitable cash contributions for the relief of victims of the earthquake in Haiti (gotta love the names of these things) is on the President’s desk, ready for his signature. There doesn’t seem to be any objection to it, so the President is likely to sign it. Although it hasn’t been signed yet, if you’ve given or are deciding to give to the relief fund keep it in mind when you do your taxes.
What does it do? If you make any contributions to a Haiti relief fund (before March 1), you can deduct those charitable contributions on your 2009 tax return. Legislation that puts money in your pocket.
UPDATE: This legislation has passed. Contributions from Jan 11 – March 1 qualify to be a tax deduction in 2009!
