IRS: Haiti donations deductible on 2009 tax returns

Jennifer Azara — Tue, 02 Feb 2010 10:00:13 +0000

Here’s critical tax info to pass on to employees — it just may make them even a little more generous.

All eyes have been on the tragedy in Haiti for weeks now. And many companies and individuals have opened their wallet to help.

Good news: Folks don’t have to wait another year to enjoy the tax benefits of their benevolence.

IRS just came out with an announcement that charitable contributions to Haiti relief efforts can be deducted on 2009 tax returns.

Of course, some conditions apply. Besides the normal requirements guiding what counts as a donation, there are some new specific conditions, straight from the horse’s mouth:

Only cash contributions made to these charities after Jan. 11, 2010, and before March 1, 2010, are eligible. This includes contributions made by text message, check, credit card or debit card.
The contributions must be made specifically for the relief of victims in areas affected by the Jan. 12 earthquake in Haiti.
People may deduct these contributions on either their 2009 or 2010 returns — but not both.

And remind them they’ll still have to itemize their contributions and keep the proper records (wireless bills count for those Red Cross texts, says the Service).

What top firms are donating to Haiti (& how you can, too)

Bob Hill — Wed, 20 Jan 2010 10:00:37 +0000

The Wall Street Journal has released a list of what some of the biggest companies in the U.S. have pledged to Haiti relief efforts. See who’s pledging what and how your company can offer support as well:

General Electric	$2,500,000
Citigroup	2,000,000
Amgen	2,000,000
Microsoft	1,250,000
JP Morgan	1,000,000
Morgan Stanley	1,000,000
Jefferies	1,000,000
Comcast	1,000,000
Pepsi	1,000,000
McDonald’s	1,000,000
Google	1,000,000
Bank of America	1,000,000
Lowe’s	1,000,000
Coca-Cola	1,000,000
UPS	1,000,000
Royal Carribbean	1,000,000
Hewlett-Packard	750,000
Becton, Dickinson	550,000
Dell	500,000
Go Daddy	500,000
Target	500,000
Mosaic	500,000
Unilever	500,000
Chubb	500,000
Walmart	500,000
Yum Brands	500,000
State Street	400,000
Abbot Laboratories	300,000
Rogers Communications	250,000
BMO Financial	250,000
General Mills	250,000
Kohl’s	250,000
Newscorp	250,000
Western Union	250,000
Kellogg	250,000
Bank of Nova Scotia*	242,000
Campbell Soup	200,000
Kraft Foods	200,000
Visa	200,000
CVS Caremark	175,000
AstraZeneca*	162,000
Toys R Us	150,000
Home Depot	100,000
ConAgra	100,000
U.S. Bancorp	100,000
Discover	100,000
Humana	100,000
Nissan	100,000
Safeway	100,000
Walgreens	100,000
General Motors	100,000
Walt Disney	100,000
Verizon	100,000
Reynolds American	100,000
Limited Brands	100,000
Cargill	50,000
Sprint	50,000
Astoria Federal	50,000
Allstate	50,000
CA	50,000

Total: $30,379,000 (and counting)

To donate (or to find out more), click here.

Source: “Companies give $30 mil for Haiti,” by Ari Weinberg, 1/15/10

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IRS: Haiti donations deductible on 2009 tax returns

What top firms are donating to Haiti (& how you can, too)