TaxProf Blog

New York Times:

• Senate’s Tax Bill Includes Incentives for Charity Gifts, by Lynnley Browning (11/22):

The tax bill passed by the Senate last week includes several provisions to encourage giving to charities and could lead to a significant increase in donations. The bill would add tax breaks for people who make small charitable contributions and for those who want to donate directly from their individual retirement accounts. The Senate measure would have to be reconciled with the House’s tax bill, which is now under consideration and lacks any substantial provisions on charitable giving.

• Senate Bill Lets Artists Claim Price for Gifts, by Robin Pogrebin (11/22):

Living writers, musicians, artists and scholars who donate their work to a museum or other charitable cause would earn a tax deduction based on full fair market value under a bill just passed by the Senate. Currently such work receives only a deduction based on the cost of materials unless it is donated posthumously by the estates.

Wall Street Journal:

• Senate Tax Bill Seeks to Encourage Charitable Giving, by Rachel Emma Silverman & Tom Herman (11/22):

The Senate passed a series of measures designed to encourage charitable giving and curb abuses by tax-exempt organizations. Charitable groups largely supported the provisions. The package was part of a wide-ranging tax bill approved last week. It would allow certain individuals to make tax-free gifts from their individual retirement accounts. It would also carve out a new tax deduction for millions of people who can’t deduct anything under current law.

• Tax Deductions for Worthless Stocks, by Tom Herman (11/21)

Washington Times:

• Two Tax-Cut Views Confront Congress, by Amy Fagan (11/22):

The tax-cut bill approved by the Senate and the bill that House leaders pledge to approve after Thanksgiving each extend different tax cuts, and will have to be melded together in what could be a challenging road to final approval.