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October 6, 2015 | 23rd Tishrei 5776

IRA Charitable Rollover Provision Extended through 2013

The Union for Reform Judaism (URJ) is pleased to inform our supporters that on January 2, 2013, the American Tax Payer Relief Act of 2012 was signed into law, allowing individuals at least 70 ½ years of age to make gifts from their traditional or ROTH IRAs without incurring federal income taxes or early withdrawal penalties.

For those who qualify, it's not too late to make a 2012 donation!

Because this legislation was enacted in January of this year, qualified distributions made after December 31, 2012 and before Feb. 1, 2013, will be counted retroactively for the 2012 tax year.

Who is eligible and what are the basic requirements?

  • Donors must be at least 70½ or older
  • Funds must be transferred directly from your IRA to the charity
  • Your total IRA charitable gifts must not exceed $100,000
Those who are eligible may use funds from their IRA to pay an existing pledge and/or make a new gift. We particularly invite our supporters to make a gift to the URJ's Annual Campaign, which will enable us to put your charitable gifts to work where they are needed most .

To learn more about making a charitable distribution from your IRA, please contact me at 212.650.4148 or with any questions you may have.

The above is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.

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