On Friday, President Obama signed H.R. 4462 into law which allows the acceleration of federal income tax benefits for charitable cash contributions for relief of victims of the earthquake in Haiti.  Below is information about the Oregon treatment of this new law. 

Oregon is currently tied to the federal definition of taxable income (which includes the calculation of itemized deductions such as the charitable contribution deduction) as of May 1, 2009.  Therefore any change by H.R. 4462 will not be allowed by Oregon at this time.  However, Oregon’s legislature is scheduled to begin a special session on February 1.  The legislature may very well consider and even pass a bill that would allow similar treatment for Oregon.  The department recommends that taxpayers who want to take advantage of the provisions of H.R. 4462 wait until after the legislative session has adjourned (around the end of February) to file their Oregon return so we know if the legislature decides to take action on this issue.

We will send another REVENEWS updating this email next month.

Steve Purkeypile

Personal Income Tax Policy

Oregon Department of Revenue