July 22, 2011 | AUTHOR: Eileen R. Heisman
Last week, Congressmen Wally Herger and Earl Blumenauer introduced an important bill in the House of Representatives. It’s called the Public Good IRA Rollover Act of 2011 (HR2502). This legislation, along with its companion in the Senate (S557), proposes to amend the Internal Revenue Code and permanently allow donors to make tax-free charitable gifts from their individual retirement accounts to charity. In addition, it would allow, for the first time, tax-free charitable gifts to donor-advised funds, supporting organizations and private foundations.