One-year Extension Granted for Three Charitable Tax Breaks

Three important charitable giving tax incentives that were up for permanent approval have, instead, been extended until the end of 2014. They are:

  • The IRA Rollover,
  • The enhanced deduction for donations of food inventories, and
  • Donations of conservation easements

Congress and the POTUS were concerned that a permanent bill would result in substantial deficit. All three giving incentives will have to be reconsidered by the next Congress.

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