Published: December 21, 2015

President Obama has signed the Protecting Americans from Tax Hikes (PATH) Act, which makes permanent several provisions that were previously enacted year to year; which made any kind of careful tax planning very difficult. One provision that was revived and made permanent is the IRA charitable rollover provision. This provision permits individuals who have reached age 70 1/2 to make a direct transfer from their IRAs to certain kinds of charities (excluding donor advised funds, supporting organizations and private foundations). There is a $100,000 annual limit on such transfers.

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Published: December 18, 2014

Congress has finally passed a bill, introduced in 2013, to extend certain credits and other tax provisions. Among the provisions it extends is the ability to make transfers of IRA funds to certain (mostly public) charities, up to $100,000, provided the IRA owner has reached age 70 1/2.

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Published: October 7, 2014

Several sessions of the US Congress have eventually passed provisions permitting contribution of IRA amounts to charities. It’s always been a limited right, applicable only to those who have reached age 70 1/2, limited in amount to $100,000, and somewhat limited as to what charities could receive it. It’s really more symbolic than anything else, because anyone can withdraw from an IRA, distribute the funds to a charity and get an income tax deduction. The benefit of a charitable IRA rollover was that the amount withdrawn was not included in income.

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Published: May 9, 2011

As previously reported, Leona Helmsley’s efforts to leave her dog $12,000,000 were rejected by a local court. The dog, reportedly with an unpleasant temperament, was forced to survive on a much smaller sum. The balance of the bequest was to be distributed by the trustees as they saw fit. As it happened, only $100,000 was given by them to dog-related charities. The ASPCA and other charities sought to intervene, to have the trustees give more to satisfy Mrs.

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Published: December 30, 2010

A provision of the Tax Relief Act of 2010 (which has a longer name but, alas, no acronym) extends through the end of 2011 the ability to make a direct trustee to trustee transfer from an IRA to a qualified charity without tax consequences (that is, no recognition of income and no tax deduction). The donor must be at least age 70 1/2 and the limit on the amount that may be transferred is $100,000 per year. The transfer must be from a traditional or Roth IRA; it can’t be from a SEP-IRA or a SIMPLE plan.

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Published: October 23, 2007

A limited opportunity for making charitable gifts was added to the law in 2006 and will expire at the end of 2007. Under this provision, which is contained in Section 408(d)(8) of the Internal Revenue Code, individuals who have reached age 70 1/2 can distribute up to $100,000 per year, for each of 2006 and 2007, to charitable organizations. The organizations must be public charities (other than donor-advised funds and supporting organizations) or private operating or pass-through foundations.

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Published: October 7, 2007

For many of us, it’s difficult to imagine that having money is a problem. Most of us work diligently to acquire wealth, and don’t shrink from having more. But the experience of lawyers and other advisers to those who have been successful financially demonstrates that wealth can be both a blessing and a curse to families. A recent talk in Philadelphia by Charles W. Collier, the senior philanthropic advisor at Harvard University, was very enlightening on this subject. Without offering solutions, because no solution can cover every situation, Mr.

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