House and Senate Bills have same IRA Charitable Rollover Provision
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Both the Senate’s Tax Extenders and Alternative Minimum Tax Relief Act of 2008 (H.R. 6049), which was passed on September 23, 2008, and the House’s Renewable Energy and Job Creation Tax Act of 2008 (H.R. 7060), which is expected to pass this week, contain identical IRA Charitable Rollover provisions. Both bills extend the IRA charitable rollover from January 1, 2008 to December 31, 2009. As was in for 2007, IRA owners over age 70½ would be allowed to transfer up to $100,000 per year to qualified public charities, tax-free.
