The deadline for 2012 IRA contributions has been extended until Jan. 31, 2013. That means, if you’re at least 70 1/2 years old, it’s not too late to make a tax-free donation from your IRA to the diocese or to your local Episcopal congregation.
The law allows you to convert a taxable 2012 required minimum distribution (RMD) from your IRA to a non-taxable distribution if you transfer those funds to the church by January 31, 2013.
The law also has a provision that allows you to make catch-up gifts for 2012 from your IRA to the Episcopal entity of your choice if made during January 2013.
If you would like to learn more, please email Mary Jane Hodges in the diocesan office, or call 501-372-2168.
Always consult your own advisors before making any gift that has tax implications. This document is not intended or written to be used, and cannot be used, for purposes of avoiding tax-related penalties. (IRS Circular 230 Notice)