The back and forth has gone on for quite some time, but as of this moment, many expired tax incentives have been reinstated!!!
The Senate signed off on legislation (H.R. 5771) on December 16, 2014 to reinstate retroactively dozens of expired tax provisions, including the IRA charitable rollover and the enhanced deductions for donating land conservation easements and food inventory. While taxpayers will be able to employ these provisions in the upcoming filing season for the 2014 tax year, the package will expire again in roughly two-weeks’ time, on January 1, 2015. The House passed the measure on December 3 and the president signed it into law on December 19!!