Tax legislation seeks to boost charitable giving

Legislation pending before the U.S. House of Representatives aims to boost charitable giving.

Legislation would boost charitable givingThe legislation includes

  • A return of the ability of those 70 1/2 or older to donate tax-free from their IRAs.
  • A new ability to take a charitable deduction for a calendar year if you make the donation by the following April 15.
  • An easing of foundation taxes and a boost for food and conservation giving.

Tax-free IRA donations most recently expired on December 31, 2013.

Read more about how the legislation would boost charitable giving in The Chronicle of Philanthropy’s report.


Update: On July 17, 2014, the House of Representatives passed H.R. 4719 by a 277 to 130 vote. Called the “America Gives More¬†Act of 2014” the bill now moves on to the Senate. President Obama has indicated he opposes the legislation as now written.