The earthquake in Haiti was a tragic event, as hundreds of thousands of people lost their lives. Many people have reached into their pockets to make donations – many by text messaging through their mobile phones.
When making qualified charitable donations, taxpayers who itemize realize a tax benefit during the year of their contribution. But, due to a recent special relief provision, taxpayers can actually deduct qualified contributions made this year for Haiti relief on their 2009 income tax return.
To qualify, contributions must be made after January 11, 2010 and before March 1, 2010. Donations must be made by cash, credit card, text messaging etc., but property donations do not count. Keep this in mind when filing your 2009 tax returns to realize a much quicker tax benefit than usual.
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