Taking bets on Tax Extenders?

Image result for odds

Ok, it’s December 11th and we still don’t know if the IRA giving provision will apply to 2015.

Everyone knows that Congress will do something with the Tax Extender package of 50+ tax deals. But, will Congress care to help out the one nonprofit wish on the list?  Not likely.

In fact, the extender package may not even get finished this year.  What good will it do if we have minus 5 days to promote it?

One predictor says it will be done by December 18th.  Good luck finding your donors who are interested in this before the end of the year if that happens.

My advice is the same as previous posts.  If your donors want to give from their IRAs (assuming age appropriate) in modest amounts (let’s say less than $20,000), they should go ahead with the gifts (after a quick call to their accountants) directly from the IRAs.  Seriously, read my post on how not having the IRA giving provision impacts a tax payer – very, very few people in this country would have a negative impact if they make a gift from the IRA without the law being reenacted.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s