Retroactive Deductions for Philippines Relief Donations

Philippines Typhoon ReliefThe Philippines Charitable Giving Assistance Act, enacted March 25, 2014, allows taxpayers who make cash contributions on or before April 14, 2014 for Philippines typhoon relief to claim charitable deductions for the contributions on their 2013 returns. Eligible contributions may be claimed on either a 2013 or 2014 return, but not both.

“Cash” contributions include those made by check, credit card, debit card, or text message. Donations charged to a credit card before the April 14 deadline, even if the bill is not paid until later, qualify, as do checks mailed by April 14.

Contributions must be made to 501(c)(3) organizations assisting with Philippines typhoon relief. Gifts cannot be made directly to individual victims of the typhoon. To check whether an organization is recognized as exempt under 501(c)(3), visit the IRS searchable online database. The New York Times has compiled a list of organizations that plan to provide relief to victims of the typhoon.

NOTE: The information contained herein is not intended to be legal advice and the reader should know that no Attorney-Client relationship or privilege is formed by the posting or reading of this article which is also not intended to solicit business.

Casey Summar, Partner, The Law Firm for Non-Profits,1812 W Burbank Blvd, #7445, Burbank, CA 91506

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