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Not For Profit/Exempt Organizations Blog

Tag Archives: Disaster Relief

IRS Announces Qualified Disaster Treatment for Chile

Posted in Charitable Giving

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.

President Obama Signs Bill Allowing 2009 Charitable Deductions for 2010 Haiti Donations

Posted in Charitable Giving

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.