House passes tax breaks to boost charitable giving - KNOE 8 News; KNOE-TV; |

House passes tax breaks to boost charitable giving

Posted: Updated:
WASHINGTON (AP) - The House has passed a package of tax breaks designed to boost charitable donations by seniors, private foundations and procrastinators.
One provision provides tax breaks to people over 70 who make donations from their individual retirement accounts. Another reduces excise taxes on private charitable foundations.
Procrastinators would be able to claim tax deductions for donations made after the end of the year, as long as they were made by April 15.
The White House has threatened to veto the bill because it would add $16 billion to the budget deficit over the next decade.
Several of the provisions are part of a package of temporary tax breaks that Congress routinely renews. The bill would make them permanent.
The bill now goes to the Senate.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.