PG Calc Blog

The word from Washington, DC is that tax reform has stalled in Congress until after the 2016 election. And what about the tax extenders, including the now-expired IRA charitable rollover? As of a couple of weeks ago, Congress appeared to be on a slow glide path to vote through a 1-year extension for 2015 in mid to late December. It is still possible that Congress might fear the ire of frustrated supporters and constituents during the 2016 election year enough to vote through a 2-year extension for 2015 and 2016. It is also possible the extension could stall out, and John Boehner leaving the pilot seat as House Speaker may factor into that.

If you so much as blinked, you missed it. Only during the last two weeks of 2014 was a charity able to tell eligible donors with certainty that they could make “qualified charitable distributions” from their traditional or Roth IRAs before the end of the year.

Gift planners have expressed a lot of excitement over the return of the charitable IRA rollover for 2013, and with good reason. There is another reason gift planners should be excited about fundraising in 2013: high income donors have substantially more incentive to donate appreciated assets, either outright or to fund a life income plan.

By now you are aware that the IRA Charitable Rollover has been extended through the end of 2013.

The IRA charitable rollover came into being with the Pension Protection Act of 2006.  It expired at the end of 2007, but was extended in the fall of 2008 retroactively from the first day of 2008 through the end of 2009.  It expired again at the end of 2009, then was extended again in December 2010, retroactively from the first day of 2010 through the end of 2011.  Now it has expired again. What’s next?