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Thursday, December 30, 2004

Aid for Tsunami Victims May be Tax Deductible

Tsunami Irs_logo_22 The IRS has announced that donations made for the benefit of the victims of the devastating tsunami last weekend in Southeast Asia may be tax deductible:

Contributions to domestic, tax-exempt, charitable organizations that provide assistance to individuals in foreign lands qualify as tax-deductible contributions for federal income tax purposes provided the U.S. organization has full control and discretion over the uses of such funds.

Further details are provided in IRS Publication 3833, Disaster Relief: Providing Assistance through Charitable Organizations.  To be deductible on 2004 tax returns, contributions must be made by midnight on December 31. For example, checks can be mailed to, or contributions made via credit card directly on web sites of, qualified charitable organizations such as:

American_red_cross_3 

American Red Cross

         

 

Salvation_army_logo   

Salvation Army South Asia Relief Fund 

 

 

World_vision_logo World Vision Asia Tsunami Relief

 

 

For other organizations providing relief to tsunami victimes, see:

For other tax coverage, see Roth & Company.

http://taxprof.typepad.com/taxprof_blog/2004/12/aid_for_tsunami.html

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Listed below are links to weblogs that reference Aid for Tsunami Victims May be Tax Deductible :

» South Asia Earthquake and Tsunami Disaster Relief from ACSBlog: The Blog of the American Constitution Society
All of us at the ACSblog are deeply saddened by tragedies resulting from the South Asia earthquake and tsunamis on December 26th. Click here for a collection of organizations working to provide relief to those individuals affected by this disaster.... [Read More]

Tracked on Dec 30, 2004 11:59:27 AM

» South Asia Earthquake and Tsunami Disaster Relief from ACSBlog: The Blog of the American Constitution Society
All of us at the ACSblog are deeply saddened by tragedies resulting from the South Asia earthquake and tsunamis on December 26th. Click here for a collection of organizations working to provide relief to those individuals affected by this disaster.... [Read More]

Tracked on Dec 30, 2004 12:25:35 PM

Comments

It appears to me that this should be updated to include the results of the law passed on January 7, 2005, which allows certain contributions for Tsunami relief made in January 2005 to be deductible on 2004 tax returns for those who itemize deductions. See the following web address for more information:
http://www.irs.gov/newsroom/article/0,,id=133273,00.html

Posted by: M. Heisel | Jan 9, 2005 4:30:56 PM