Recently Expired Charitable Tax Provisions ('Tax Extenders'): In Brief [May 1, 2014]   [open pdf - 244KB]

"On April 3, 2014, the Senate Finance Committee voted to report the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act (S. 2260), which would extend a set of expired tax provisions through the end of 2015. These and other temporary tax provisions that are regularly extended for one or two years are often referred to as 'tax extenders.' This report briefly summarizes the temporary charitable tax provisions that expired at the end of 2013 and are being considered for extension. The report also discusses the economic impact of these charitable tax provisions. Four charitable tax provisions are discussed in this report: (1) the enhanced charitable deduction for contributions of food inventory; (2) tax-free distributions from individual retirement accounts for charitable purposes; (3) basis adjustment to stock of S corporations making charitable contributions of property; and (4) special rules for contributions of capital gain real property for conservation purposes. There are other 'tax extender' provisions that may affect tax-exempt entities discussed in other CRS [Congressional Research Service] products. Specifically, CRS Report R43510, 'Selected Recently Expired Business Tax Provisions' ('Tax Extenders') , by Jane G. Gravelle, Donald J. Marples, and Molly F. Sherlock includes a discussion of the modification of tax treatment of certain payments to controlling exempt organizations. Extender provisions related to the low-income housing tax credit, which may be relevant for tax-exempt organizations, are discussed in CRS Report R43449, 'Recently Expired Housing Related Tax Provisions ('Tax Extenders'): In Brief,' by Mark P. Keightley."

Report Number:
CRS Report for Congress, R43517
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