Charity incentive extended
Published: Tuesday, January 11, 2005 at 6:01 a.m.
Last Modified: Monday, January 10, 2005 at 11:32 p.m.
Taxpayers who itemize deductions may claim on their 2004 tax returns charitable donations made during January 2005 for relief of the victims of the Indian Ocean Tsunami, the Internal Revenue Service announced on Monday.
The Jan. 7 law allows these donations to be deducted as if they were made on Dec. 31, 2004, the agency said.
"There are no extra forms to fill out or any additional burdens for taxpayers," said IRS Commissioner Mark W. Everson. "As long as you send your check by the end of the month, the donation will be treated just like it was still 2004."
The new law only allows for cash contributions to qualified charities, which must be made specifically for the relief of victims in areas affected by the Dec. 26, 2004, tsunami in the Indian Ocean. The new law gives taxpayers the option of deducting the contributions on either their 2004 or 2005 returns, but not both.
Contributions to foreign organizations generally are not deductible, the agency said.
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