Senate Finance Committee Chair Chuck Grassley (R-Iowa) joined with Ranking Minority Member Max Baucus (D-Mont.) yesterday in proposing to permit taxpayers to claim charitable deductions in tax year 2004 for donations they make for tsunami disaster relief until January 31, 2005, instead of having to wait until next year’s filing season. Only cash gifts made specifically for disaster relief would be eligible.
Senate Bill Would Allow Tsunami Contributions to be Deducted on 2004 Tax Returns
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3 responses to “Senate Bill Would Allow Tsunami Contributions to be Deducted on 2004 Tax Returns”
January Giving
TaxProf notes that Charles Grassley of Iowa has introduced a bill that will allow gifts to the tsunami aid effort made in January to be deductible on 2004 tax returns.
Would that then extend the deadline to have statements to donors? We already have our 2004 statements done…would we reprint them, or issue a supplement?
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