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Tax Deadline Approaches
Are you 70 1/2 or older with a traditional or Roth IRA? Do you
face a minimum required distribution that results in income taxes? You
can make a gift of your IRA's minimum required distribution directly to
Driscoll Catholic & avoid paying income tax. The Pension
Protection Act of 2006, in effect Until December 31, 2007, allows people
aged 70 1/2 or older to exclude up to $100,000 from their annual gross
income for direct gifts from a traditional or Roth IRA to a qualified
charity. The IRA rollover provision is set to expire on
December 31, 2007. Contact Mary Link, Director of Development, at 630
543-6310 Ext. 825 or
mary.link @driscollcatholic.com. |