More on Katrina & Estate Planning Opportunities

Earlier on this blog, I reported on the Katrina Emergency Tax Relief Act of 2005 which provides tax relief to the victims of Hurricane Katrina as well as some extraordinary tax planning opportunities.

These opportunities are now receiving enhanced publicity such as in an article which appears in today's New York Times, Stephanie Strom, In Hurricane Tax Package, a Boon for Wealthy Donors, NY Times, Oct. 27, 2005.  Ms. Strom explains that the new legislation

allows donors who make cash gifts to almost any charity by the end of this year to deduct an amount equal to virtually 100 percent of their adjusted gross incomes, double the normal limit of 50 percent of income. The tantalizing prospect has set off a financial scramble among some wealthy donors and charities vying for their dollars.

Special thanks to Prof. Joel C. Dobris of the University of California -- Davis for pointing out this article.