AHP Now

 View Only

AHP urges Senate to restore IRA charitable rollover

  • 1.  AHP urges Senate to restore IRA charitable rollover

    Posted 03-03-2014 12:15 PM
      |   view attached
    AHP via Independent Sector and joined by nearly 500 nonprofit organizations sent a letter last week to the U.S. Senate, supporting legislation to expand and make permanent the IRA charitable rollover, which allows taxpayers age 70 1/2 and older to make donations directly to charitable organizations from their IRAs without incurring a tax liability on the distribution. The provision expired January 1. Senior Senate Finance Committee member Charles Schumer (D-NY) and a bipartisan group of five lawmakers introduced a bill (S.1772) in November to make the provision permanent and broaden the definition of charities eligible to receive donations.Committee Chairman Ron Wyden (D-OR) hopes to hold a vote on the package of 55 temporary tax provisions sometime this spring.

    -------------------------------------------
    Kathy Renzetti CAE
    CSO
    Association for Healthcare Philanthropy
    Falls Church VA
    (703) 538-3143
    -------------------------------------------