Congress makes IRA Charitable Rollover Giving Incentive Permanent

On Dec. 18, President Obama signed the Protecting Americans from Tax Hikes Act (PATH) of 2015 that permanently extends the IRA Charitable Rollover. This provision allows you to transfer up to $100,000 directly to charitable organizations like the Galveston Bay Foundation without treating the distribution as taxable income

Benefits and Qualifications:

  • Makes it easier to use IRA assets to make charitable gifts
  • Tax-savings opportunity
  • Must be 70 1/2 or older to make this kind of contribution
  • Gifts of $100,000 may be made annually, but you must make the gift on or before Dec. 31, 2015 to qualify as a tax-free charitable rollover for 2015

See your tax professional for additional advice regarding the IRA Charitable Rollover.

Please help us achieve long-term results in protecting the Galveston Bay estuarine system with your charitable bequest or beneficiary designation. For more information, contact Sharon Roark at sroark@galvbay.org or call (281) 332-3381 x 204.

The Galveston Bay Foundation cannot render tax or legal advice. Please consult your professional advisor about your specific situation before making a charitable gift.