The U.S. Congress and President Obama have just passed legislation to extend the IRA Charitable Rollover incentive permanently. If you have not taken your IRA distribution this year, you still have time to designate up to $100,000 tax free to Heifer International.
The IRA Charitable Rollover permits individuals who are age 70 1/2 to transfer up to $100,000 from their IRA to charity free from federal income tax. The gift can satisfy all or part of your required minimum distribution for the year, allowing you to lower your income and taxes for this year while helping Heifer International. You will not have a charitable deduction for this gift.
For more information, read more about how an IRA charitable rollover works, or contact Heifer Foundation at 888.422.1161.