The IRS has released a message reminding taxpayers about the February 28th deadline for claiming Haiti Relief Donations on their 2009 returns:
WASHINGTON -- Taxpayers wishing to claim their Haiti relief donations on the tax return they are filling out this season must make those donations by the end of this month, according to the Internal Revenue Service.
Individuals and corporations have until midnight on Sunday, Feb. 28, to make cash contributions to charities providing earthquake relief in Haiti. These contributions can be claimed on either a 2009 or 2010 return, but not both. Contributions made after that date but before the end of the year can only be claimed on a 2010 return.
Contributions made by text message, check, credit card or debit card qualify for this special option. Donations charged to a credit card before the end of February count for 2009. This is true even if the credit card bill isn't paid until after Feb. 28. Also, checks count for 2009 as long as they are mailed by the end of this month and clear your financial institution shortly thereafter.
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To view the complete press release, please click here.
Related links:
IRS Publication 526, Charitable Contributions
Video -- Haiti Earthquake Donations: English | Spanish | ASL
Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal
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