I haven't found it on the news today, but I heard it announced on my local Public Radio channel at lunchtime today. Apparently you can donate up to January 31, 2005 and still deduct it on your 2004 tax return.Taxpayers would be able to claim deductions for contributions to tsunami relief efforts on their 2004 tax returns under legislation introduced Tuesday by the chairman and top Democrat on the Senate Finance Committee.
The bill, sponsored by Finance Committee Chairman Charles Grassley, R-Iowa, and Sen. Max Baucus, D-Mont., would allow charitable contributions for tsunami relief made through the month of January to be claimed as deductions on taxpayers' 2004 tax returns.
Normally, any donations made in 2005 could not be claimed until taxpayers filed their 2005 tax returns a year from now.
Both Grassley and Baucus said they hoped legislation to extend the deduction deadline until Jan. 31 would bolster support for the private relief effort that is being led by former presidents George H.W. Bush and Bill Clinton.
"Americans are giving generously to tsunami relief, as they did after Sept. 11. I hope this extension will encourage them to give even more," Grassley said in a statement.
Tsunami Donation - 2004 Tax Deduction Bill Passed
-
Moonwynd
- Almost 1337
- Posts: 919
- Joined: July 11, 2003, 5:05 am
- Gender: Male
- Location: Middle of nowhere
Tsunami Donation - 2004 Tax Deduction Bill Passed
Congress passed this today - Just an FYI
-
Tyek
- Way too much time!
- Posts: 2288
- Joined: December 9, 2002, 5:52 pm
- Gender: Male
- XBL Gamertag: Tyekk
- PSN ID: Tyek
- Location: UCLA and Notre Dame
If a liberal had been elected then they would have never allowed the accident to happen!!!! 
Sorry that was my impression of Midnyte making fun of liberals
I think this is a great gesture, but it is sad if someone will only make a donation if they can make a deduction this year.
Sorry that was my impression of Midnyte making fun of liberals
I think this is a great gesture, but it is sad if someone will only make a donation if they can make a deduction this year.
When I was younger, I used to think that the world was doing it to me and that the world owes me some thing…When you're a teeny bopper, that's what you think. I'm 40 now, I don't think that anymore, because I found out it doesn't f--king work. One has to go through that. For the people who even bother to go through that, most assholes just accept what it is anyway and get on with it." - John Lennon
I think this is a great gesture, but it is sad if someone will only make a donation if they can make a deduction this year.
I think you're totally off base on this. A lot of people really can't affored anytype of donation worth a damn. This will just allow people like myself or others who are almost living paycheck to paycheck, to donate a nice sum that would normally never even be able to be given by me. It allows me to turn around in 1 month, and get that money right back in a sense from my tax returns.
People who have 1-5k saved up in the bank won't dish out 1k at a pop for nothing even if its based on the goodness of the heart.Just simply because they can't. This is just a way for us to, and not worry about sucha big hit in our savings.
Of course you have the Millionairs and such who will only do this for a write off, but if it works. Then good for the U.S.A.
I wouldn't call it a direct turn around in tax relief. Giving $100 does not mean the government is going to give you $100 back. It just means that they won't tax $100 of your earnings. The government always gets theirs.
I won't be donating to the Tsunami relief. I feel sad for the devastation but the government is already giving them at least $350 million dollars. That money is my tax dollars so in a sense I am already donating.
I won't be donating to the Tsunami relief. I feel sad for the devastation but the government is already giving them at least $350 million dollars. That money is my tax dollars so in a sense I am already donating.
Deward