HAITI EARTHQUAKE ? HUMANITARIAN RELIEF EFFORTS

Many Americans, including thousands from Minnesota have volunteered their time and resources to help those in need.  However, hundreds of thousands continue to die and suffer because of this devastating event.

Recent legislation, passed by House and Senate, will allow those who wish to make donations to the Haiti earthquake relief to deduct such contributions on their 2009 income tax returns.  This bill would include cash donations made between January 11, 2010 and March 1, 2010 for victims affected by the earthquake in Haiti on Jan 12^th.

Having not been signed in to law, it is my opinion the President will make his intention know during his upcoming State of the Union Address.

Example:

Taxpayers making a $500 donation to the Haiti Earthquake victims, with a combined federal and state marginal tax rate of 30% can reduce their tax or increase their refund by $150[i].  Together with our $50 match, $550 will be contributed to the earthquake victims with an out-of-pocket cost to you of $350.

While taxpayers, who do not itemize deductions on their tax returns, would not receive a tax benefit, we will step in and help.  Here?s how:

We will match your qualifying[ii] contribution in the amount equal to 25% of our tax preparation fee or $50, whichever is less.  Our contribution will be limited to fees paid for individual tax returns preparation (i.e. form 1040 filers) and must be filed no later than February 28, 2010.

In order to qualify for this match, you will be required to provide documentation substantiating your contribution prior to the preparation of your 2009 income tax return.  Taxpayers who have made a contribution via cell phone, need only provide a copy of their cell phone record substantiating such payment.  Firm contributions will be made no later than March 1, 2010. 

Although you may donate to any eligible organizations, the firm will make all its? donations to the  CPAs in Support of America Fund, Inc., a 501(c)3 organization formed after the 9/11 crisis.

This is just one way Steven H. Mangan, CPA can help you help others during this catastrophic event.

Our organizer, (including all states), can be completed electronically and sent to us via NetClient by completing our request form.  Others can simply complete, print, and fax or mail it to the following:

FAX: 952-236-6962

Mail:          Steven H. Mangan, CPA

                 8646 Eagle Creek Circle, Suite 113

                 Savage, MN  55378

 If you would like to find out more, email us, or call 952-746-3470. 

Links to Information and Qualifying Organizations

Disaster Recovery Guide

IRS Resources

American Red Cross

Better Business Bureau

Unicef