Submitted By: Jack Answered: September 18, 2012 8:30 am
Was the tax break for direct transfers from an IRA to public charities by those age 701/2 extended into 2012 or beyond?
Not yet. In 2011, such transfers were tax free, but Congress could still extend this rule for 2012. Back in 2010 when Congress extended the rule late in the year, it gave taxpayers into January 2011 to take action, so stay tuned!