Senate Finance Committee Approves IRA Charitable Rollover Extension

The Partnership for Philanthropic Planning (PPP) shared that "on July 21, 2015, the Senate Finance Committee approved by a 23-3 vote a $95 billion tax extenders package that would retroactively renew 52 expired tax provisions – including the IRA Charitable Rollover – through the end of 2016. This vote marks the latest step in Congressional efforts this year to revive the Rollover, which lapsed once again at the end of 2014."

PPP stated that "prior to the Finance Committee vote, several committee members filed amendments to the legislation put forth by Finance Committee Chairman Orrin Hatch (R-UT), which would have made the IRA Rollover a permanent part of the tax code. Those amendments ultimately did not receive an up-or-down vote as lawmakers wanted to quickly adopt the underlying extenders legislation."

Click here to read the full article on the Partnership for Philanthropic Planning's website.


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