CLIENT ALERT

For additional information contact:
Andrea Kriznauski
Marketing Coordinator
akriznauski@untracht.com

February 6, 2006

Important Information Regarding Your 2005 Charitable Contributions

For 2005, all cash contributions to public charities must be separated between those made from January 1 through August 27, 2005 and those made from August 28 through December 31, 2005.

Please be sure to provide this breakdown when sending us your 2005 tax information.

Why?

The Katrina Emergency Tax Relief Act and Charitable Contributions...

The provisions exempt cash donations to qualifying charities made between August 28 and December 31, 2005 from the application of the phase-out of itemized deductions for high-AGI taxpayers.

A taxpayer must also elect on their tax return to have contributions treated as qualified contributions under these provisions.

It is especially important that taxpayers provide a detailed list including amount, date of contribution and the name/description of the organization in order to take advantage of this provision.

Should you have any questions about charitable contributions or other tax related issues, please do not hesitate to contact us. You may also, visit our website for the latest tax news and resources.