• IRA Charitable Rollover
  • February 8, 2011
  • Law Firm: Hinckley Allen Snyder LLP - Providence Office
  • On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the Tax Relief Act). This law extends the Individual Retirement Account Charitable Rollover (the IRA Charitable Rollover) through December 31, 2011. The IRA Charitable Rollover allows taxpayers who are age 70½ or older to make a tax-free distribution of up to $100,000 from their IRA directly to one or more charities. Such IRA Charitable Rollover can count towards a taxpayer's minimum required distribution for the calendar year of the distribution.