May 1, 2008
Senators Seek to Extend Incentives for Charity
Leaders of the Senate Finance Committee have introduced a bill that would renew and extend a key provision on charitable giving that affects donors with individual retirement accounts.
Until December 31 of last year, donors age 70 or older were able to transfer up to $100,000 to charity from their individual retirement accounts each year without paying income taxes on the money.
The new bill would extend that provision to the end of 2009, according to its authors, Sens. Max
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