Gifts made by an individual after the close of a taxable year (e.g., 2014), but before the tax return due date (e.g., April 15, 2015) could at the donor’s election be treated as if made in that taxable year (e.g., 2014). The due date would be determined without taking extensions to file into account. The election could be made only at the time of filing the return.
Charitable Giving Act
Benefits. This second-chance-charitable-deduction provision under the Charitable Giving Extension Act, H.R. 3134, would give donors and would-be donors an opportunity to consider or reconsider making charitable gifts after their tax situation is better known.
