Senate Passes Haiti Assistance Income Tax Relief


The Senate on Thursday passed by unanimous consent the Haiti Assistance Income Tax Relief Act ( S. 2936). The Senate bill was identical to H.R. 4462, passed by the House on Wednesday. The legislation now goes to President Barack Obama for his signature; he is expected to sign it this week.

The act allows taxpayers to deduct contributions made for the relief of victims in areas affected by the Jan. 12 earthquake in Haiti on their 2009 tax returns instead of on their 2010 returns. To be eligible for an accelerated deduction, the contributions must be made after Jan. 11, 2010, and before March 1, 2010, and meet the requirements of IRC § 170.

The act also allows such donations to be substantiated by a telephone bill showing the name of the donee organization, the date of the contribution and the amount of the contribution.

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

SPONSORED REPORT

Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.