September 21, 2000
Congress Takes Up IRA Charity Provision
Congress is considering legislation that has a far-reaching provision long sought by non-profit organizations: Allowing people age 70½ and older to make tax-free withdrawals from individual retirement accounts for donations made directly to charities or through such planned gifts as charitable remainder trusts.
Under current federal law, Americans may withdraw funds without penalty from I.R.A.'s when they reach age 59½. But people are subject to income tax on the amount
This content is only for subscribers. You can gain access by purchasing a:
Print Subscription
Digital Subscription
Already have an account? Log In Now.
Get more great stories about the nonprofit world delivered to your inbox every weekday. 
