Please read below for updated important information that may be of interest regarding The IRA Charitable Rollovers for 2015.
We have timely information that may be of interest to many of you. As part of the recently passed Protecting Americans from Tax Hikes (PATH) Act of 2015, individuals age 70½ or older can make tax-free distributions directly from their Individual Retirement Accounts (IRAs) to qualified charities, such as the Brain & Behavior Research Foundation, for up to a maximum of $100,000 per year. The Act authorized a permanent extension of the IRA Charitable Rollover. Donors wishing to take advantage of the IRA Charitable Rollover gift for 2015 must do so by December 31, 2015. Also, an IRA Charitable Rollover gift may fulfill part or all of your required minimum distribution. We recommend that you discuss this special tax incentive with your income tax professional for further details.