The Internal Revenue Service is reminding individuals and businesses that are making contributions to charity to keep in mind several important tax law provisions that have gone into effect these last few years. Financial advisors can inform their clients of the changes so that they can properly make claims on their taxes next year. Among some of the changes are:
Special tax-free charitable distributions for certain IRA owners
This provision, currently scheduled to expire at the end of 2013, offers older owners of individual retirement arrangements (IRAs) a different way to give to charity.