The IRA Rollover has NOT been extended through February 2012

After several clients sent us emails asking about the status of the IRA Rollover and whether it had been extended through February, Pentera confirmed that it has NOT been extended and WILL expire on December 31, 2011:


The electronic version of the Chronicle, quoting another source, reported that the Charitable IRA Rollover, presumably along with other items that are annually extended, were added to the payroll tax cut legislation and, along with it, extended for two months. Pentera downloaded the legislation that was passed by Congress on the 23rd, and we saw nothing in it referring to the Charitable IRA rollover. Thus, we conclude that either the news item was incorrect or that we did not see the final version of the legislation.


Update: Upon further research, we found this retraction from the Chronicle:


Editor’s note: "As pointed out by several readers in the comments below this item, The Record incorrectly reported news about an extension of a tax break for older donors who want to give up to $100,00 (sic) from their individual retirement accounts. Congress did not include anything about the tax break in the payroll-tax measure, so it will expire at year’s end. We have removed the summary to avoid misleading readers."