Wondering about the IRA Charitable Rollover? Any chance for its return?
On August 3, the Senate Finance Committee passed the typical Tax Extender Bill – which happens to include the IRA Rollover along with a few other charitable provisions! Great news for fundraisers. See the Independent Sector’s summary of the charitable points in the bill by clicking here.
The question, of course, is what can fundraisers do with this new information? Getting the IRA Charitable Rollover into the Extender Bill is good news, which means that it will likely be passed.
The problem is that Congress just went on vacation for 6 weeks and will come back to a Presidential election gearing into full swing. Hard to believe either party giving an inch on anything that could make the other side look good. So, we are really talking about a bill that gets passed after the election – probably after Thanksgiving. Yikes.
Here is my take: something to talk about is always a good thing. Put out an update in your emails or newsletter – Congress Considering Re-Enacting IRA Charitable Giving Law… – inform donors/prospects of progress and to get in contact with you for more information.
You never know – the conversations alone are worth it. And, you may line up several people who will be waiting to give you IRA funds as soon as the law is finalized.
For more information and previous posts on the IRA Charitable Rollover, click here.