SPECIAL Tax Tip: QCD Update

On December 1st, a bill was introduced (H.R. 5771) that would, among other things, temporarily extend the Qualified Charitable Distribution (QCD) option from December 31, 2013 to December 31, 2014.

A few days ago, the House of Representatives passed the bill by a vote of 378 to 46.

There are still a few more hurdles to clear – it still needs to be passed by the Senate and signed by President Obama.

In the meantime, we can’t assume QCDs will be extended…nothing like waiting to the last few weeks of the year and keeping us all on the edge of our seat!

We will share additional details as they develop.

Source: www.waysandmeans.house.gov, H.R. 5771

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