Sunday, December 21, 2014

President Signs Bill Extending Until 12/31 Tax-Free Charitable IRA Distributions

On Friday, President Obama signed H.R. 5771, the Tax Increase Prevention Act of 2014. Section 108 of the Act extends until Dec. 31, 2014 the provision allowing tax-free distributions from IRA's for charitable purposes. The benefit applies to IRA holders who are at least 70 1/2 years old.  The Wall Street Journal reports in more detail on the provision.