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KATRINA TAX UPDATE: SEPTEMBER 7, 2005

September 07, 2005

sasheild.gifGifts for Hurricane Katrina relief are reported to be at $465,769,985, give or take a few million. Assuming a 28% tax rate (heck, everyone pays alternative minimum tax nowadays, right?), that means the IRS is out $130,415,596 or so, so far. Good work, folks!

But now's not the time to stop. Give generously to the Salvation Army, the Red Cross, or one of the worthy charities here.

IRS UPDATE: The IRS has announced that it is speeding up the process for approving applications for charitable entity status as a result of the Katrina disaster. They still encourage gifts to established charities.

LINK: Summary of IRS Hurricane Relief

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Comments

I attend a small Catholic church south of Des Moines, and we took up a collection for the victims of Katrina. In one day we raised $6,000.00! Oh yeah, we're giving it to the IRS!

Email: jkristan@rothcpa.com  •  Phone: (515) 244-0266
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