Satisfying rmd through direct donation to qualified charity
I cannot find any news updates to determine if congress will re-authorize the ability to satisfy rmd requirements through direct transfers to qualified charities for tax year 2015. Having these donations on a “pre-tax” basis affects the amount I donate. Is anyone aware of activity in Congress on this issue? Thanks.
Permalink Submitted by Alan - IRA critic on Thu, 2015-12-03 16:17
Just like in past years, Congress is now beginning to work on an extenders bill that will likely include the QCD. Some extenders might be made permanent, and even some eliminated as well. If the bill is not signed until it is too late, the donation period could be extended through the end of January like it was a few years back. This continued inefficiency is very frustrating, but you should try to wait them out. Many taxpayers in past years have panicked about their RMD and missed out on the QCD when it was finally retroactively approved.