The Pension Protection Act of 2006 made the IRA Charitable Rollover permanent law, allowing taxpayers age 70 ½ or older to transfer up to $100,000 annually from their IRA accounts directly to charity without first having to recognize the distribution as income. See the Forum's position and resources on this issue.
IRA Charitable Rollover
Sample communications from regional philanthropy networks and their grantmaker members to Members of Congress encouraging an end to the prohibition for Donor Advised Funds in the IRA Charitable Rollover.
Sample materials from regional associations developed to engage their members in policy issues. Materials range from webinar invites to one-pager info sheets covering topics such as the Charitable IRA Rollover, education reform, and mental health reform.
More than 250 philanthropy leaders from across the nation are gathering on Capitol Hill starting today to urge lawmakers to value and strengthen charitable giving in America.
Paul Daugherty is the President of Philanthropy West Virginia, the statewide professional association of private, family, corporate, community and public foundations.In this interview, Paul discusses philanthropy in West Virginia, Foundations on the Hill, throwing a good party, and the value of the Forum Network. Regarding this week's Foundation's on the Hill, Paul said, "With our Members of Congress our key issues are advocating on behalf of tax policies regarding the IRA Rollover Act becoming permanent in the tax code as well as the simplification of the excise tax on foundations. Those components are so important, especially to rural America, which we represent."
Last week, the United States House of Representatives passed the bipartisan "American Gives More Act of 2014," a legislative package that makes the IRA charitable rollover permanent and simplifies the excise tax on private foundations, both positions supported by many regional associations.