Congress Approves Extending 2004 Deadline for Tsunami Donations
Earlier this week, Senator Chuck Grassley, of Iowa, and Senator Max Baucus, of Montana proposed a bill that would reward the American public for their generous donations to last month's Tsunami victim’s relief.
Grassley and Baucus proposed extending the December 31, 2004 deadline for making charitable donations to Tsunami victims until January 31, 2005. Under the current law, individuals and companies who’ve donated after December 31, 2004 would have to wait until filing their 2005 tax returns to take the charitable deductions.
CNN/Money reported on Thursday that Congress approved the bill to extend the deductibility of donations made for tsunami disaster relief. The bill was passed by unanimous consent by both the House and the Senate and will be sent to President Bush for signing.
Both Senator Grassley and Senator Baucus cautioned the American Public to watch out for con artists trying to turn the tragedy into a profit-making venture. "A little research can go a long way toward stopping crooks in their tracks," said Mr. Grassley and Mr. Baucus.