Exempt Organizations Blog: Congress Extends the IRA Charitable Rollover

Friday, October 3, 2008

Congress Extends the IRA Charitable Rollover

The massive Emergency Economic Stabilization Act of 2008 (the "bailout bill") that was signed into law today by President Bush includes a provision to extend the IRA charitable rollover through 2009. These provisions were originally included in the Pension Protection Act of 2006 in response to Hurricane Katrina as a means to increase tax-free charitable giving. The provisions allow an individual to donate up to $100,000 from an individual retirement account (IRA) to charity tax-free.

A bit of silver lining in this storm cloud.

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