A reader from Westminster, Colo. asks the following important questions of Tom Herman in the Wall Street Journal.
Is there any chance that Congress will allow IRA holders to once again donate money directly from an IRA to a charitable organization in 2010?
And Herman’s answer:
“Yes, but it’s still too soon to know what will happen.
Right now, Congress is focusing on health-care issues. But lawmakers are expected to focus on this and many other tax-related issues later this year.
[The] reader is asking about one of many tax laws scheduled to expire at the end of the year. This one generally allows individuals age 70 1/2 or older to move as much as $100,000 a year directly from an individual retirement account to a qualified charity — without having the money transferred considered taxable income.