Congress has recently voted to renew the IRA rollover provisions in the Middle Class Tax Relief Act of 2010. This allows people ages 70 ½ and older to use up to $100,000 from their IRAs to make charitable gifts. If you meet the age requirement, you can satisfy the annual IRA-required minimum distribution through making a new donation, paying an existing pledge, or creating an enduring endowment.

And by using IRA funds for a charitable contribution to UJA-Federation of New York, you may achieve a tax benefit while helping to ensure that people can have the programs they need to survive economic hardship, make a deeper connection to their ancestral roots in Israel, or enjoy Jewish learning and camping experiences. So your IRA will be helping both you and the causes you care about — at the same time.

The relevant provisions are set to expire on Friday, December 31, 2011. Individuals who make charitable transfers by Monday, January 31, 2011, may elect to treat them as if they were made in 2010.

Please consult your legal and tax advisors to determine applicability for your personal, legal, and financial needs. Any discussion of United States tax matters contained within this communication is not intended to be used to promote, market, or recommend to another party any transaction or matter addressed herein.