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Article: Hurricane Katrina affects those filing income tax returns.
- Article from:
- News-Gazette (Champaign-Urbana, IL)
- Article date:
- January 22, 2006
CopyrightCOPYRIGHT 2006 The News-Gazette. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tim Mitchell
Jan. 22--Hurricane Katrina may have swooped down on the Gulf Coast in August, but the storm continues to make an impact on people filing income tax returns this spring.
Carol Chabot, a CPA for Michael J. Smith and Associates, Champaign, said tax changes passed by Congress following the storm provide tax relief for those affected by Hurricane Katrina.
"In most years there is a limitation on the amount of cash charitable gifts a person can list as deductions," Chabot said. "But this year there is no limit to gifts to charities between Aug. 28, when the hurricane hit, and Dec. 31."
The higher gasoline prices that ...