November 29, 2007
House Bill Extends Charitable Incentives
When the House of Representatives passed its controversial Responsible Tax Relief Bill this month, it also voted to extend a tax incentive that allows older donors to deduct money contributed to charities through their individual retirement accounts.
The incentive, which allows taxpayers age 70 1/2 to make tax-free charitable contributions from their IRA accounts, is scheduled to expire on December 31. The House bill would extend the provision for another year.
Many nonprofit
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