On Friday, October 3, 2008, Congress voted to retroactively extend the IRA Charitable Rollover provision from January 1, 2008, through December 31, 2009.

The IRA charitable rollover, as originally enacted by the Pension Protection Act of 2006, provides a tax advantage for retirement savers who are 70 1/2 years or older.  If you transfer a contribution of up to $100,000 from your IRA directly to a qualified public charity, such as Planned Parenthood of Southwestern Oregon you can count the full amount toward your required minimum IRA distribution and avoid the income tax on the amount contributed, as well as avoid potential future estate taxes. 

You should consult with your tax advisor about the benefits and restrictions associated with this type of giving.  Please contact our Development Office at 541-344-2632 x12 if you are interested in making a donation using this provision or if you would like  more information.

 

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