Donate: DONATING FROM IRA ACCOUNTS

Watch this space for updates on the status of the IRA Rollover Program for individuals 70 1/2 and over.

The Pension Protection Act of 2006 provided individuals, age 70 & 1/2 and older, the opportunity to contribute up to $100,000 from their IRA directly to their favorite charity. Unfortunately, this provision expired on 12/31/2007. Several members of Congress have introduced legislation that would either extend or make permanent this popular provision. In light of the possibility of new legislation, you might want to consider delaying your 2008 required minimum distribution (RMD) until later in the year or until the outcome of the proposed legislation becomes clear. As always, it is important to consult with your tax, legal, and financial advisors before making important financial decisions.

ICS can provide additional information. Please contact Interfaith Community Services at 520-297-6049 or mapplegate@icstucson.org for information on how we can assist you in planning your charitable giving. All inquiries are strictly confidential.