Tax break for Haiti donations

Breaking news from the IRS:

A new tax relief law allows people who contributed in 2010 to charities providing earthquake relief in Haiti to take a tax deduction for the contribution on their 2009 tax return instead of their 2010 return.

This means you can receive an immediate tax benefit, rather than having to wait until you file next year’s return. Certain requirements apply:

* 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.
* You may deduct these contributions on either your 2009 or 2010 returns, but not both.

The complete details of this law can be found here.