I wish that I could report that immediate IRA giving was back on (or really close). Check out this article from ThinkAdvisor.com: http://www.thinkadvisor.com/2014/11/03/tax-extenders-bill-in-jeopardy-as-debt-limit-looms. (the cool picture is from ThinkAdvisor, too)
Not good news for nonprofits fundraisers looking for an extra boost from IRA gifts. In sum, the whole “tax extender” package is projected to cost $85 billion and no one in Congress has revealed where the funds will come from to “pay” for these tax deals. Yikes.
I’ve been promoting IRA rollover gifts for years, and we’ve seen a steady increase in IRA rollover contributions over time. I’ve actually received several phone calls in the last few weeks, asking about this. I truly hope this will be available again.
The ray of hope we have is that lobbyists for the 50 or more tax extenders aren’t giving up, so a backroom deal might somehow get worked out.