Trusts & Estates
New Law Provides Certainty for Charitable Distributions from IRAs
by Jeramie Fortenberry, JD, LLM (Taxation) | Executive Editor, WealthCounsel
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. The new law became effective 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.
To learn more about PATH and the requirements of Section 408(d)(8) that will affect your clients, please download this WealthCounsel Insight Brief today.
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