By Elizabeth Schwinn
The House of Representatives on Friday passed several measures designed to stimulate charitable giving and curb abuses of tax laws by donors and nonprofit organizations. The provisions were included in legislation that would tighten rules that protect America's private pension system.
Among the provisions included in the House bill: Donors would be allowed to withdraw up to $100,000 from their individual retirement accounts tax-free if they gave the money directly to charity. The tax break, which would be available for two years under the legislation, has long been a priority for charitable groups. They say that making it easier for people to donate their retirement funds to charities could cause a significant amount of money to flow to charity."