2006 Year End Tip

New legislation offers additional IRA related Tax Benefits: If you are at least 70 ½ years of age, the recently enacted Pension Protection Act (HR4) allows you to give ICF and/or other qualified charities up to $100,000 directly from your IRA without triggering federal income taxes. The gift will also satisfy the rules for required minimum distributions for the year. If you are interested in taking advantage of this charitable gift provision in the tax code, ICF staff will be pleased to provide you with additional details.

NOTE: Be sure to check with your accountant, tax attorney, or other tax advisor for additional information on how the provisions of HR4 apply to your situation.