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Charitable Donors Get Extra Months to Give in House Plan

Taxpayers would receive more time to make deductible charitable contributions in a bill passed today by the U.S. House of Representatives.

The measure would allow taxpayers to take deductions starting with their 2014 tax returns for contributions they make through the following April 15, the date taxes are due. That change would align the deduction and the tax benefit, compared with current law that sets a Dec. 31 deadline for donations. That often comes before taxpayers know their final marginal tax rate and whether they will itemize deductions.