A recently
enacted law may benefit those making charitable gifts to Arkansas State
University, said Steve Owens, vice president for University Advancement.
In August of this year, President George W. Bush signed into law
what is known as the Pension Protection Act of 2006. The law allows persons
who are 70 years and six months or older to rollover up to $100,000 from an
individual retirement account (IRA) directly to a qualifying charity (like
the ASU Foundation) without recognizing those assets transferred to that
charity as income.
The PPA is retroactive to distributions made from IRAs in
taxable years after December 31, 2005, but will no longer be applied to
distributions that are made in taxable years beginning after December 31,
2007.
“This law may benefit some of our alumni and friends who are
considering a gift to the university,” Owens said. “Donors should consult
their professional tax adviser for individual tax benefits.”
For more information concerning the tax benefits of the Pension
Protection Act, click here. To
return to the previous page, please press the "back" button on your computer.
