House Votes to Reinstate IRA Rollover
The House voted to pass H.R. 5771-the Tax Increase Prevention Act of 2014-which would reinstate and extend the IRA Charitable Rollover along with other expired incentives through the end of 2014. As you recall, this provision expired at the end of 2013; PAA and other charitable giving advocates have been urging Congress this year to reinstate this important incentive. Unlike H.R. 4719 which the House passed in July, this bill does not extend the deadline through April 15 for making charitable contributions that can be included on the previous year’s tax return.