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December 10, 2009, 11:39 AM ET
House Agrees to Extend Charitable Tax Incentives
The House of Representatives on Wednesday approved legislation that will extend for another year a variety of charitable tax incentives.
The measures, part of the Tax Extenders Act of 2009, H.R. 4213, would allow people age 70½ and older to continue making charitable donations of up to $100,000 a year from their individual retirement accounts without having to pay taxes on the distribution.
They would also extend tax provisions to encourage donations of property, food inventory, books to public schools, and computer equipment for educational purposes.
A summary of the legislation, which was approved by a vote of 242 to 181, is available on the House Ways and Means Committee Web site.
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