Please read below for updated important information that may be of interest regarding The IRA Charitable Rollovers for 2014.
As part of the recently passed and signed Tax Increase Prevention Act of 2014, individuals age 70½ or older can make tax-free distributions directly from their IRA's to qualified charities, such as the Brain & Behavior Research Foundation, for up to a maximum of $100,000. The Act has authorized these IRA Charitable Rollovers to be retroactively extended through Dec. 31, 2014. Donors wishing to take advantage of the IRA charitable rollover gift for 2014 must do so before the end of this year (12/31/2014). Discuss this special tax incentive with your income tax professional for further details.