How ‘fiscal cliff’ bill may affect charitable gifts

After weeks of political drama, the U.S. has averted or at least delayed the so-called “fiscal cliff.” The American Taxpayer Relief Act of 2012 has been signed into law by the president after passing both houses of Congress. Taxpayer “relief” means that about 77 percent of U.S. households will pay higher taxes, according to Bloomberg, mostly because of the expiration…