Is the rule allowing those age 70½ or older to make a direct transfer from their IRA to charity up to $100,000 in effect for 2012?

Not yet. This rule expired at the end of 2011, and Congress has not yet extended it for 2012. But don’t despair. This rule, which is not controversial, could very well be extended for 2012. Unfortunately, congressional action may not come until after the November election, leaving you very little time in 2012 to act. Keep checking JKLasser.com for details.