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IRS: Recent Tax Law Changes May Affect Charitable Donations

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By Admin on December 18, 2006 7:55 AM

The Internal Revenue Service (IRS) announced that individuals and businesses making contributions to charity should keep in mind several important tax law changes made last summer under the Pension Protection Act. The new law offers older owners of individual retirement accounts a new way to give to charity. It also includes rules designed to provide both taxpayers and the government greater certainty in determining what may be deducted as a charitable contribution. Read the IRS Press Release outlining these changes and offering tips for year-end donations.