The legislation makes permanent three temporary – and currently expired – provisions in the tax code that encourage charitable giving by both individuals and businesses: an enhanced tax deduction for donating food inventory, an enhanced tax deduction for donating land conservation easements, and the IRA charitable rollover. The legislation also would extend the deadline through April 15 for making charitable contributions and streamline the excise tax on foundation investment income.
 
Independent Sector has long worked to secure permanent enactment of these important giving incentives, which would end the ambiguity and uncertainty caused by repeated lapses and subsequent reinstatements that have made it extremely difficult for donors and financial advisors to develop charitable giving plans, impeding the transfer of gifts to charitable organizations.