Friday, February 13, 2015
On February 12, the House of Representatives voted to pass the America Gives More Act, which includes several provisions important to the nonprofit community. Among them are permanent tax incentives for charitable gifts made from retirement accounts (known as IRA charitable rollovers) as well as food and land donations. Another provision would simplify private foundations’ excise taxes to a single flat rate. A similar bill passed the House in 2014 but was not taken up by the Senate.