Investors are considering which charitable giving strategy to use if they are not itemizing deductions under the new tax law.
The Senate voted 76-16 Tuesday to approve a House bill that preserves several dozen tax provisions, known as “tax extenders,” from January 1, 2014 through the end of the year, essentially providing a one-year retroactive extension. The collection of provisions, which includes tax breaks and deductions, was set to expire as of the end of
A provision to make tax-free donations to charity from an IRA, tax deductions for certain college expenses, and dozens of other tax breaks known as “tax extenders” could be renewed if Congress acts before the end of the current session. In the next few weeks, Congress must decide whether to restore some or all of