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