Charity Tax Breaks Only Extended Through End Of 2014

Charities wanted permanent tax breaks, but instead the Senate last night passed a one-year tax extenders bill, only good through Dec. 31, 2014. That leaves the long-term fate of the 50-plus on-again off-again tax breaks, including three charity tax breaks, to be decided in the next Congress.

There could be an immediate year-end charitable impact though. For donors who want to do an IRA charitable rollover for the 2014 tax year, they can do it with near certainty as President Barack Obama is expected to sign off on the one-year extension right away.

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