Tuesday March
- 2011
- 15
Information on Earthquake Relief for Japan Provided
by Lee Reams in Breaking NewsTaxpayers and businesses that wish to donate to the earthquake relief for Japan should be aware that in order for the contributions to be tax-deductible, it must be made through a U.S. tax-exempt charitable organization and cannot be made directly to individuals, non-U.S. charitable organizations or entities.
Contributions to domestic tax-exempt, charitable organizations that provide assistance to individuals in foreign lands qualify as tax-deductible contributions for federal income tax purposes, provided that the U.S. organization has control and discretion over the use of funds. Certain organizations, such as churches or governmental organizations, may be qualified to accept charitable contributions, even though they are not included on the IRS listing of qualified charities.
The IRS has provided some information for the many individuals, businesses and charitable organizations that wish to provide assistance to the victims of Japan's recent earthquake. The IRS suggests that donors consult Disaster Relief Resources for Charities and Donors to get information about how to provide assistance to victims through a charitable organization.
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