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Update on U.S. Tax Extenders and Canada Stretch Tax Credit

  • 1.  Update on U.S. Tax Extenders and Canada Stretch Tax Credit

    Posted 12-17-2014 02:31 PM
    United States - Congress restores 2014 giving incentives, including IRA charitable rollover

    The Senate has signed off on legislation passed by the House (H.R. 5771) that retroactively reinstates dozens of expired tax provisions through the end of 2014, including the IRA charitable rollover and enhanced deductions for donating land conservation easements and food inventory. The tax provisions will expire again on January 1, 2015. Senate Finance Committee member John Thune (R-SD) says he plans to introduce a bill in early 2015 that would permanently reinstate these giving incentives.

    Canada - House Finance Committee releases pre-budget report, including recommendation for Stretch Tax Credit

    The House of Commons Finance Committee issued its pre-budget report on December 10, containing 47 recommendations for the 2015 federal budget, including a recommendation for the Stretch Tax Credit:

    That the federal government continue building on successful initiatives that encourage charitable giving. In this regard, the government should explore measures that would prompt higher levels of charitable donations, such as a stretch tax credit. (Recommendation #17)

    For more information, go to the AHP Canada Community in the AHP Huddle.

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    Susan Simolunas
    Communication Coor
    Association for Healthcare Philanthropy
    Falls Church VA
    (703) 532-6243
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