Please join us in celebrating a victory for Foundations and donors everywhere as the President recently signed the IRA Rollover into permanent law.
The charitable “tax extenders” are no longer “extenders” that must be reinstated each year, but have become a permanent part of our tax code. In a historic vote, Congress passed the IRA Charitable Rollover into permanent law, making it available to donors and charities for the foreseeable future.
Community foundations may immediately begin accepting IRA Charitable Rollover gifts from individuals age 70 ½ and up to $100,000 without incurring tax on the withdrawal. This benefit is available to all taxpayers regardless of whether they itemize their deductions.
Should you have questions on whether or not this option would be of benefit to you and your family, please do not hesitate to call the Foundation.