On August 11, 2010, the commencement of the observance of Ramadan, a charity alert was issued by the United States Treasury Department. Treasury acknowledged the importance of charitable giving during the month-long observance and used this opportunity to express concern about possible exploitation of all charities by terrorist organizations. The alert outlines steps for charities and donors to take in order to “guard against terrorist abuse.”
Charitable Giving
Tweets from the Georgetown “Representing & Managing Tax-Exempt Organizations” Conference (April 22-23, 2010)
By A. Nicole Campbell on
We tweeted live from the Georgetown Conference that occurred on April 22-23, 2010. Our tweets highlight IRS next steps and agenda items, as well as discuss other topics of interest to exempt organizations.
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IRS Announces Qualified Disaster Treatment for Chile
By A. Nicole Campbell on
On March 9, 2010, the IRS issued guidance designating the earthquake that occurred in Chile in February, 2010 as a qualified disaster for federal tax purposes. The guidance allows recipients of qualified disaster relief payments to exclude those payments from income tax. The guidance also allows employer-sponsored private foundations to assist employee victims in areas affected by the earthquake without affecting their tax-exempt status.
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President Obama Signs Bill Allowing 2009 Charitable Deductions for 2010 Haiti Donations
By A. Nicole Campbell on
On Friday, January 22, 2010, President Obama signed into law a bill allowing taxpayers who made charitable contributions to the Haiti earthquake relief efforts to claim an itemizable deduction on their 2009 Tax Returns instead of waiting until next year to claim the deduction….The IRS also announced on Friday that it has issued guidance designating the Haiti earthquake as a natural disaster for federal tax purposes. The guidance allows recipients of qualified disaster relief payments to exclude those payments from income tax.
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