Are We Taking The Sex Offender Label Too Far? - Rhode Island Bar ...

ecently that help to resolve some of the
inequities against those taxpayers who do
not itemize. For example, the Charitable
IRA Rollover allows donors age 70½ and
older to distribute up to $100,000 directly
from their IRA to public charities without
having to count the distributions as
taxable income. For taxpayers who do
not itemize, taking advantage of this
would finally give them some financial
benefit for contributing to charity. At the
time of this writing, bills are pending in
both houses of Congress to extend and
expand the Charitable IRA Rollover so
more potential donors can take advantage
of it.
As unemployment remains high and
confidence in a quick recovery low, governments
will justifiably tighten their
collective belts and more people will
inevitably turn to charities for help (In
fact, this has been happening for some
time now). These people, our communities,
and our economic base need a vibrant
and effective charitable sector. Certainly,
there are many varieties of legal and tax
reform that can still achieve the primary
goal of maintaining some kind of incentive
for charitable giving. Policies (smart
tax breaks or otherwise) that help motivate
private individuals to give to important
causes during difficult times are not
just helpful to people in need. They will
ultimately help governments save money
by leveraging the transformative power
of philanthropy. ❖
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