|
|
|
| IRA CHARITABLE ROLLOVER
PROVISION UPDATE |
Welcome News! The IRA Charitable
Rollover passed. On the afternoon
of December 17, 2010, the President signed into law The Tax Relief,
Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
This bill restores the IRA
Charitable Rollover for 2010 and permits its use in all of 2011.
Due to the lateness in the year, individuals who choose to make a
qualified distribution (QCD) from their IRA to a charity may make their
2010 distribution any time during 2010 or during January of 2011.
If you own an IRA and are over age 70½, you may transfer up to $100,000
directly from your IRA to the PCA Foundation because we are a qualified
charity.
Please contact the PCA Foundation prior to making the transfer so that a
special account can be established to receive the funds.
It is important to note that the rollover is not permitted to
fund an Advise & Consult Fund®
as it is a donor-advised fund.
Donor-advised funds do not qualify to receive IRA charitable rollovers.
You may not have taken your 2010
required IRA distribution and may reduce your income taxes with an IRA
charitable rollover. Even if you
have taken your required IRA distribution, you still may find the IRA
charitable rollover a very convenient way to make a year-end gift.
Thanks very much for your support.
Please call us at 800-700-3221 or 678-825-1040 if you are interested in
learning more about the IRA charitable rollover and how the PCA
Foundation can help you.
|
|
Stewardship Service Providers
You Can Trust
UPCOMING EVENTS ...
PCA General
Assembly
Louisville, KY
June 19-22, 2012
|
