Legislation reinstates IRA Charitable Rollover provision for charitable giving

Sunday, December 27, 2015

in News

There is great news for philanthropists who contribute to non-profit organizations. President Obama has now signed into law a permanent IRA Charitable Rollover provision. The key charitable provision that is made permanent in this tax package that can benefit non-profits like Jennings is that taxpayers over 70½ years old are able to make donations directly from an IRA and will not be taxed on the amounts—up to $100,000.

There has been much conversation surrounding this bill in the past few years. In the past, extensions have been made at the last minute, not allowing ample time for donors to make their charitable arrangements. This current legislation removes the deadline, therefore giving donors more options for philanthropy.

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