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Nov 1, 2008 12:00 PM
IRA Charitable Rollover Is Extended
The IRA rollover to charity has been extended through 2009. Buried in the $700 billion banking bailout legislation (officially known as the Emergency Economic Stabilization Act of 2008) that was passed by Congress and signed by President George W. Bush on Oct. 3, 2008, is a two-year extension of the individual retirement account charitable rollover legislation originally enacted as part of the Pension Protection Act of 2006.
The IRA charitable rollover allowed individuals 70½ or older to make tax-free rollovers from their IRAs outright to public charities of up to $100,000 a year for 2006 and 2007. Extending the ability to make these rollovers through Dec. 31, 2009 should encourage additional charitable giving in a difficult fundraising environment for charities.
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| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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