IRA Charitable Rollover Extension

On December 17, 2010, President Obama extended the act that allows individuals 70 1/2 years and older to take tax-free distributions from their IRAs of up to $100,000 per taxpayer per taxable year through 2011, in the IRA Charitable Rollover.  Every qualified donation made before January 1, 2012, is applicable for this provision.  The new law also allows donors to make qualified charitable distributions through January 31, 2011, and elect them as a 2010 distribution. 

To read more about this law, visit The Erie Community Foundation's news article about it here.  For additional information, visit the Partnership for Philanthropic Planning's article with detailed links here.