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01/04/2014: PHILIPPINE CHARITABLE GIVING ASSISTANCE ACT

The Philippine Consulate General is pleased to inform you that the US House of Representatives unanimously passed HR 3771, the Philippine Charitable Giving Assistance Act on March 24, 2014 sponsored by House Representatives Eric Swalwell (D-CA) and Mike Thompson (D-CA).  The Senate passed its version (S 1821) on March 06, 2014.  The Senate approved HR 3771 when it was referred to them on March 25, 2014 sponsored by Senators Mazie K. Hirono (D-HI), Dean Heller (R-NV), Harry Reid (D-NV), and Robert Menendez (D-NJ).  The bill was signed by President Obama in the evening of March 25, 2014. 

The enacted bi-partisan bill would allow taxpayers who donate to the relief efforts in the Philippines after the President's signature and before April 15, 2014 to take the charitable deduction when they file their 2013 tax returns.  Taxpayers who donate in this time frame but have already filed their taxes can amend their tax returns to receive those benefits this year.  Without this law, taxpayers can claim a tax deduction for contributions they make to charities, but they receive the tax incentive many months later after they file their tax returns the following year.  The law eliminates this delay. 

We again take this opportunity to thank all of you for your generosity and for sacrificing your time and resources to help rebuild lives and communities in the areas affected by Typhoon Yolanda.