SAN ANTONIO -- Christian News Board Treasurer, Joe Shaver, a career accountant, reports on a development that may be of interest to several of our readers. A favorable income tax incentive was restored in the recently signed Tax Act.
People who are at least 70 and a half years of age may again make tax free transfers from an IRA to the Christian News or other not-for-profit organizations such as the church or a para-church ministry. These transfers also qualify to satisfy part, or all, of the required distribution some must receive each year.
Joe suggests that those interested contact their IRA custodians. They can go over the guidelines in more detail and provide the standard form that is used for such transfers.