A new law allows taxpayers to claim a charitable contribution deduction on their 2009 tax returns for earthquake victim donations made between January 12, 2010 and March 1, 2010.  The donation must be made in cash (including check, credit/debit card or text message donations) and must be entirely directed for the relief of victims in areas affected by the January 12, 2010 earthquake in Haiti.

All of the other normal rules governing the deductibility of charitable contributions still apply.  Individuals, for instance, must itemize their deductions on Schedule A to claim a deduction and all record keeping requirements must be met.  Donations must be made only to qualified charities.  Taxpayers may elect to claim their qualifying deductions on either their 2009 or 2010 tax return, but not on both returns.  Donations made after March 1, 2010 will not be eligible for a 2009 deduction and will only be deductible on 2010 tax returns.

Additional information may be found on the IRS web site.

You may make donations to Feed My Starving Children’s Haiti Earthquake Response program, the American Red Cross’s Haiti Relief and Development fund, or to another qualified charity of your choice that offers a Haitian earthquake relief option.

For more information on the charitable contribution deduction, please contact your SDK representative, or contact Dennis Bidwell, 612.332.9322.