Act Now! Ask Congress to restore IRA Rollover - (February 2, 2012)
Act Now to Restore IRA Rollover
Washington, D.C. - At the end of 2011, an important charitable giving incentive – the IRA Rollover – expired amidst congressional wrangling over budget priorities. In advance of a Senate hearing earlier this week on a number of expired tax provisions, Finance Committee Chairman Max Baucus (D-MT) vowed "to find a bipartisan path forward," adding that "it is critical to extend these tax provisions early in the year to maximize their effect and provide certainty for the 2012 tax year."
â¨â¨As Congress attempts to come to agreement on various tax proposals with many moving parts, please speak up now to ensure that the final product will include a provision to reinstate the IRA Charitable Rollover.â¨â¨
The IRA Charitable Rollover provision has spurred new and increased giving to orchestras and thousands of other nonprofit organizations, supporting the valuable public benefits nonprofits share with their communities. On December 31, 2011, the IRA Charitable Rollover expired along with a number of other tax provisions. The IRA Rollover allowed donors 70 1/2 and older to make up to $100,000 in charitable contributions directly from their individual retirement accounts (IRA), without paying taxes on the withdrawal.â¨â¨
Please CONTACT CONGRESS TODAY to ask for immediate restoration of this important charitable giving incentive. The League has prepared an easy-to-use advocacy tool, linked below. Please be sure to personalize the sample message with information about how contributions to your orchestra benefit your community. Thank you!
The League is a member of the Performing Arts Alliance, a coalition of national performing arts service organizations dedicated to advocating for national policies that recognize, enhance, and foster the contributions the performing arts make to America