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Do You Know About the Pension Protection Act of 2006?
You can make a Tax-free Charitable Contribution from your IRA
You might like to know that Congress recently enacted sweeping but
temporary changes regarding charitable contributions made from
Individual Retirement Accounts (IRAs). In a nutshell, the new law
permits individuals to give up to $100,000 from an IRA directly to
a qualifying charity without counting the gift as a withdrawal—and
therefore income.
These changes are effective retroactively to distributions made
after December 31, 2005 and will expire December 31, 2007.
Individuals must be at least 70.5 years of age at the time of the
transfer.
This is a rare opportunity for donors to access IRA funds to
support charitable causes with no tax penalty. It is our wish to
spread the news of this opportunity so that good causes may
benefit from this temporary provision.
If you would like to know more about this special opportunity to
make a donation to the San Mateo Public Library Foundation call
650-522-7860 for more information. |
