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IRS Press Release on Tax-Free Transfers to Charity

By Gerry W. Beyer

IRSThe IRS recently released a press release entitled Tax-Free Transfers to Charity Renewed For IRA Owners 70½ or Older; Rollovers This Month Can Still Count For 2014, IR-2014-117, Dec. 23, 2014. Provided below is an excerpt from the press release.

Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2014, the Internal Revenue Service said today.

IRA owners age 70½ or older have until Wednesday, Dec. 31 to make a direct transfer of part or all of their IRA distributions to an eligible charity.

See, IRS Press Release on Charitable IRA Rollover, Charitable Planning, Dec. 24, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

 

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Estate Planning - Generally and Non-Probate Assets