IN THE SENATE OF THE UNITED STATES
December 12 (legislative day, December 11), 2013
Ms. Hirono (for herself and Mr. Heller) introduced the following bill; which was read twice and referred to the Committee on Finance
To accelerate the income tax benefits for charitable cash contributions for the relief of victims of Typhoon Haiyan in the Philippines.
This Act may be cited as the
Philippines Charitable Giving Assistance Act
Acceleration of income tax benefits for charitable cash contributions for relief of victims of Typhoon Haiyan in the Philippines
For purposes of section 170 of the Internal Revenue Code of 1986, a taxpayer may treat any contribution described in subsection (b) made after January 1, 2014, and before March 1, 2014, as if such contribution was made on December 31, 2013, and not in 2014.
A contribution is described in this subsection if such contribution is a cash contribution made for the relief of victims in areas affected by Typhoon Haiyan, for which a charitable contribution deduction is allowable under section 170 of the Internal Revenue Code of 1986.
In the case of a contribution described in subsection (b), a telephone bill showing the name of the donee organization, the date of the contribution, and the amount of the contribution shall be treated as meeting the recordkeeping requirements of section 170(f)(17) of the Internal Revenue Code of 1986.
All applicable provisions in this section are designated as an emergency for purposes of pay-as-you-go principles.