The American Taxpayer Relief Act of 2012, which was enacted January 2, 2013, included charitable IRA legislation that allows donors ages 70 1/2 and older to move up to $100,000 a year from an IRA directly to an eligible charity, including Ames UMC, without having to pay income taxes on the money.

You may contribute funds this way if:

  • You are 70 1/2 or older;
  • Your total IRA gifts do not exceed $100,000 in a tax year;
  • You have the IRA custodian transfer funds directly to the charity; and
  • You designate the gift outright to the qualified charity.

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