Objective coverage of church-state and religious liberty developments, with extensive links to primary sources.
Thursday, October 23, 2014
New CRS Report On Expired Charitable Tax Provisions
On Oct. 17, the Congressional Research Service released a Report titled Recently Expired Charitable Tax Provisions (“Tax Extenders”): In Brief. The report discusses (1) the enhanced charitable deduction for contributions of food inventory; (2) tax-free distributions from IRA's for charitable purposes; (3) basis adjustment to stock of S corporations making charitable property contributions; and (4) special rules for contributions of capital gain real property for conservation purposes. It also projects the cost of extending the expired provisions.
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Internal Revenue Code