Dozens of tax benefits for individuals and corporations expired on Dec. 31, 2009. Those laws had expired in earlier years and had been extended a few times—the latest until Dec. 31, 2009. Once again, the House and the Senate have voted to extend those provisions retroactively to Jan. 1, 2010, for one more year. A handful of the expired and would-be extended provisions deal with charitable contributions.
Be mindful. The extenders bills—even though passed by both the House and the Senate—require a House-Senate conference before going to President Barack Obama for his signature. How to pay for all this stuff has to be ironed out. Tax Committee members say that this should happen by Memorial Day. But the rule is almost always later rather than sooner.
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