CHAPEL HILL, NC - On October 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008. While the main feature of the Act is the rescue/bailout package, it also extends certain portions of the Pension Protection Act of 2006 that expired on December 31, 2007. This provision allows individuals who are 70 ½ or older to make distributions from their IRA accounts directly to a charity without recognizing the distribution as income.  The extended provision is identical to the original Charitable IRA Rollover provision passed in the summer of 2006.  The extension covers distributions made in tax years 2008 and 2009.

This opportunity to access IRA assets for lifetime gifts can allow you to create (or add to) a significant legacy to benefit UNC Lineberger – perhaps the kind of gift that you have always wanted to make.

Read Fact Sheet about IRA Rollover Extension

Learn more about the extended IRA Rollover provision