Expired “extenders” affecting exempt organizations 

January 6: Some 57 tax credits, deductions, and other incentive provisions—the “extenders”—expired on December 31, 2013.

Legislation (S. 1859) to extend these provisions was introduced in the Senate in December 2013, but Congress failed to act on it before adjourning in 2013. It is unclear when Congress will address the expired provisions in 2014.

Among the provisions (previously identified in a JCT report, List of Expiring Federal Tax Provisions 2013-2023, JCX-3-13 (January 11, 2013)) that expired at the end of 2013, the following items may be of particular interest to tax-exempt organizations:

  • Special rules for contributions of capital gain real property made for conservation purposes (sections 170(b)(1)(E) and 170(b)(2)(B))
  • Enhanced charitable deduction for contributions of food inventory (section 170(e)(3)(C))
  • Modification of tax treatment of certain payments to controlling exempt organizations (section 512(b)(13)(E))

Read TaxNewsFlash-United States for more information on the expired tax provisions.

For more information, contact:

Rick Speizman, Partner-in-Charge of KPMG's Washington National Tax Exempt Organizations Tax group

+1 (202) 533-3084

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