PATH Information

“The Protecting Americans From Tax Hikes Act of 2015 (PATH) provides long-awaited certainty for taxpayers that make charitable contributions from IRAs. PATH was enacted on December 18, 2015. It made permanent the IRA charitable rollover provision that allows taxpayers to exclude up to $100,000 from gross income for “qualified charitable contributions” from an IRA and made it retroactive to January 1, 2015.New Law Provides Certainty for Charitable Distributions from IRAs
Taxpayers who want to use IRC Section 408(d)(8) to make charitable contributions in 2015 must make charitable distributions from the IRA by December 31, 2015. This provides a very limited window for 2015 planning so now is the time to reach out to your clients who might wish to take advantage of this new legislation.”

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