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Tax-Free Distributions From IRA to Charity | Tax Tip of the Week | No. 75
The recently signed 2010 Tax Relief Act extended the availability for taxpayers who are receiving required minimum distributions (RMDs) from an IRA to contribute that amount to a charitable organization. The extension applies to contributions of distributions for all of 2010 and 2011. Also, RMD distributions to a charity can be made in January 2011, and elected to be treated as an RMD for 2010.