Anything new …

On the IRA charitable rollover? The little bit I’ve seen online shows congressional committee discussion of extending it, but no action. Anyone know anything different?



Congress has just taken up yet another discussion of many of the extenders, no doubt including this one. The financial meltdown and taxpayer angst may actually contribute to them completing debate on this sooner than otherwise.

Too bad Congress only acts when people are about to reach for the pitchforks!



… whether the direct-to-charity IRA provision is one of the extenders added by the Senate to the bailout bill?



it’s being wrapped up with HR 6049, which you can track here:
[url=http://www.opencongress.org/bill/110-h6049/show%5DH.R.6049%5B/url%5D



It is now law, retroactive to 1-1-08 and thru 2009. Signed by the Pres today.



It took a taxpayer bailout of 700 billion to get these extenders done in October rather than after the election by tacking them on to the bailout.

Now, the question is can anyone still afford to do the QCD with what’s left of their IRA?!?



Al

I don’t understand how the QDC can be retroactive to 1/1/08 if the contribution has to go directly from the IRA custodian to the charity. Oh, I realize now that one should have made the contributions directly from the IRA regardless and hope that the extension would finally pass before the end of the year. Is that correct?



Many people that do not need the RMD wait until Nov-Dec to take it out. So for many, the timing is about right.



I sould have added that many donors make their larger donations late in the year, as well, so it seems to fit.



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