Ways and Means to mark up permanent tax extenders bills

Ways and Means to mark up permanent tax extenders bills

The House Ways and Means Committee has scheduled for Wednesday, February 4, a mark-up of seven bills, including bills that would permanently extend:

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  • Higher expensing levels for small businesses (H.R. 636)
  • The charitable deduction for contributions of food inventory (H.R. 644)
  • Certain tax-free distributions from individual retirement accounts (IRAs) for charitable purposes (H.R. 637)
  • The reduced recognition period for built-in gains of S corporations
  • The rules regarding basis adjustments to stock of S corporations making charitable contributions of property
  • The increased percentage limits and carryforward period for qualified conservation contributions (H.R. 641)

Ways and Means will also mark up a bill concerning the tax rate for excise tax on investment income of private foundations.

Text of the bills and amendments, as well as descriptions of each bill provided by the Joint Committee on Taxation are available on the Ways and Means website.

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