Tax Legislation

Tsunami Relief Donation Bill

President Signs Extension of 2004 Deduction Window for Tsunami Relief Donations On January 7, 2005, President Bush signed into law a bill allowing tsunami disaster relief donations made before January 31, 2005 to be included with deductions for tax year 2004. Normally, charitable donations made in January would have to be claimed as deductions for the tax year in which they were contributed. The bill (H.R. 241) was passed by unanimous consent in both the House and Senate. Senators Charles Grassley (R-IA) and Max Baucus (D-MT), the Chairman and Ranking Member of the Senate Finance Committee, and Representatives Bill Thomas (R-CA) and Charles Rangel (D-NY), Chairman and Ranking Member of the House Ways and Means Committee, all expressed support for encouraging Americans to continue giving to the relief effort. Senator Baucus said, "The American people are some of the most generous in the world, and this proposal will give then an extra incentive to support this great cause.  Today, Americans have been given an even greater opportunity to support the relief efforts currently underway to help victims of the Indian Ocean tsunami." Independent Sector appreciates the leadership of Senators Grassley and Baucus in working to create incentives to support charitable giving. Read Independent Sector's statement on this proposal.

See How IS Members are responding to the Tsunami Crisis Independent Sector's statement on this proposal H.R. 241 Tsunami Relief Donations bill Statement from Senators Grassley and Baucus

Last updated: January 7, 2005