Some Charity Giving Incentives Failed to Become Permanent
As a follow up to our previous Flash, on December 11, 2014, the House failed to advance another bill, known as the Supporting America’s Charities Act, which would have made the IRS charity rollover and the enhanced deductions for donations for land conservation easements and food inventory permanent.
The Supporting America’s Charities Act, was brought to the House floor and required a two-thirds vote. The vote was 275 to 149 and, as a result, the bill did not pass.
On another note, the extenders, as noted above, has not yet been settled by the Senate. These are the last days in Congress, so consent is expected soon.