When Congress passed the American Taxpayer Relief Act on New Year’s Day, a special IRA giving opportunity was included.
The law allows taxpayers who are at least age 70½ with a traditional or Roth IRA to make tax-free distributions of up to $100,000 before December 31, 2013.
Please note, you must request distributions from your IRA be sent directly to the qualified charity.
To make tax-free distributions follow these guidelines:
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Your age must be 70½ or older at the time of the gift(s).
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The transfer must be made on or before December 31, 2013.
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You must contact your IRA Plan Administrator and have the funds transferred directly from your IRA.
CLICK HERE to see a sample letter requesting distributions from your IRA. For more information, contact the United Church Board for Ministerial Assistance, toll-free at 1.800.642.6543, ext. 2714.