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Mon Jan 21, 2013, 10:58 AM

Nonprofits see potential in tax break for retirees (withdrawals from IRA)


By Leslie Reed

LINCOLN Although she's approaching her 80th birthday, Dr. Carol Swarts continues to work as a radiation oncologist, sometimes in Anchorage, Alaska, upon occasion in Haiti and Congo, and often at her alma mater, the University of Nebraska Medical Center.

She does not need to make withdrawals from her individual retirement account.

Yet the Internal Revenue Service says she must.

So Swarts was pleased when the recent deal in Washington to avert the fiscal cliff retroactively revived an IRA charitable rollover for 2012. The provision allows retirees to use mandatory IRA withdrawals of up to $100,000 to make tax-free donations to charity.

FULL story at link.

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