October 18, 2007

Congress Seeks to Extend IRA-Donation Option

By Suzanne Perry

Rep. Nick Lampson, Democrat of Texas, has taken a new tack in the campaign to persuade Congress to allow people to continue donating money from their individual retirement accounts to charities tax-free.

Mr. Lampson has introduced the Charitable Tax Relief Act of 2007 — H.R. 3596 — which would make permanent the legislation that allows such donations when people are age 70 1/2 or older, a provision that is set to expire at the end of this year.

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