Phi Kappa Psi Foundation
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American Taxpayer Relief Act of 2012

Published: March 01, 2013
Extending the IRA rollover for 2013

On January 1, Congress passed new legislation that extends the IRA rollover provision for charitable gifts. You may make a charitable gift directly from your IRA to the Phi Psi Foundation without claiming any increased income or paying income tax, referred to as a Qualified Charitable Distribution (QCD). This provision applies to 2013 gifts up to $100,000 for IRA owners over age 70 ½.

Over the past six years, Phi Psi donors have taken advantage of this opportunity, giving to support the Fraternity. These gifts came in all sizes and are already making a positive impact. With an IRA rollover gift, you will be a part in changing the lives of today’s undergraduate collegians. Under the new legislation, IRA owners over age 70 ½ may transfer up to $100,000 through a Qualified Charitable Distribution that also satisfies the Required Minimum Distribution from the IRA. The process is easy! To make a tax-free gift from your IRA for 2013, simply contact the Foundation today.

This is your chance to make a difference for Phi Psi and eliminate taxes on your IRA Required Minimum Distribution for 2013. Please contact us if we can answer any questions by calling 800.350.1852. We also encourage you to visit with your professional advisors, who can respond to tax questions.
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