The Haiti Tax Deduction – Donate Now, Deduct From ’09 Returns

ABC News’ Z. Byron Wolf reports: In a bipartisan effort to spur giving, a new proposal from House and Senate tax writers (meaning its really likely to pass) would allow anyone who gives money to Haiti relief efforts now could count the donation as a deduction on their 2009 tax returns.  Lawmakers could pass the proposal as soon as next week. The donations would have to be made before March 1 to qualify for 2009 deductions. Congress unanimously passed a similar measure in 2005 after the Indian Ocean tsunami. Today’s proposal comes from Sens. Max Baucus of Montana and Charles Grassley of Iowa and Reps. Charles Rangel of New York and Dave Camp of Michigan. They are the chairmen and ranking members, respectively of the two tax writing committees on Capitol Hill. “This proposal is a call to arms for all Americans to give to the relief and rebuilding of this struggling nation to help ease the suffering they face each day and for days and weeks to come,” said Baucus.