Time is running out! We wanted to alert you to a time sensitive opportunity to help Central Florida Hillel. In case you did not know, the Senate approved tax-free charitable distributions from qualified individual retirement plans. On December 16, 2014, the Senate passed HR 5771, The Tax Increase Prevention Act of 2014, which includes an extension through December 31, 2014 of the IRA Charitable Rollover. As President Obama is expected to sign the bill in the next few days, and there is a short window of opportunity, we are sharing this important news now. It permits tax-free distributions to Central Florida Hillel from an Individual Retirement Account (IRA) held by an individual age 70½ or older of up to $100,000 per taxpayer ($200,000 per couple) for 2014. While you may not claim a charitable deduction for this gift, the distribution counts towards your minimum required distribution for the account and does not trigger income tax for you. You must act quickly - the distribution must be made no later than December 31, 2014. To find out whether the IRA Charitable Rollover can benefit you, please contact your personal tax advisor. To complete an IRA Charitable Rollover gift to Central Florida Hillel, simply contact your IRA administrator. To make a tax deductible donation to Central Florida Hillel today click here! Thank you for your generosity!
Posted on: Tue, 30 Dec 2014 22:04:56 +0000
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