On July 17, 2014, the House passed legislation called the “America Gives More Act of 2014" (H.R. 4719).
The bill contained “tax extenders” for two charitable tax breaks that could expire, but are normally renewed for one or two years at a time. In addition, there were two new ideas. One would provide an extension until April to make charitable gifts. The other simplifies the excise tax rates for private foundations.
While these provisions still need to pass the Senate, we will explain the provisions in more detail in this post.