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Wall Street Bail-out Revives Tax Break for Non-Profit Donors
"That is a compelling argument that the charitable IRA rollover provision significantly enhances private support for higher education and encourages prospective donors to be more creative in their philanthropy," said Barco. "I think Congress should not only make this break permanent but should also expand it to allow for life-income gifts from younger donors"...
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It's not quite a case of "use it or lose it," but that's your money in your IRA, and one of the bonus features of the $700 billion Wall Street rescue bill may allow you to contribute some of it to Brenau or other non-profits while reducing your tax liability for required IRA disbursements.
