The IRS has notified donors that if they want to help victims of the earthquake, tsunami and now nuclear disasters that have hit Japan, they should make contributions to qualified tax-exempt domestic charitable organizations. Contributions are tax deductible under section 170 of the Code, as long as the U.S. organization has discretion and control over the funds’ use.
Potential donors can learn more at www.irs.gov/charities. Also, see www.mcguirewoods.com for disaster relief information including, “Charitable Giving and Disaster Relief in Response to the Haitian and Chilean Earthquakes” by Milton Cerny and Adam Damerow, and “TSUNAMI: NGO Response Now and the Future” by Milton Cerny and Michael Durham, Exempt Organizations Tax Review.
McGuireWoods Nonprofit & Tax-Exempt Organizations Group
Our nonprofit and tax-exempt organizations lawyers provide advice and guidance that enable charities and other nonprofits to operate more efficiently and effectively in today’s increasingly complicated, regulated and competitive environment. Contact one of the following for further information on charitable giving for disaster relief.