Source: http://www.retirement-taxplanning.com/key-developments/charitable-beneficiary-designations/
Timestamp: 2017-09-21 06:51:31
Document Index: 675602488

Matched Legal Cases: ['art 1', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2', '§ 408']

Key Tax Developments Affecting Retirees
Chapter 1. Retirement Tax Planning Summary
Chapter 2. Qualified Retirement Plans
Chapter 3. Eligible Exempt Organization Plans
Chapter 4. Eligible State/Local Government Plans
Chapter 5. Individual Retirement Arrangements (IRAs)
Chapter 6. Roth IRAs
Chapter 7. Designated Roth Accounts
Chapter 8. Minimum Distribution From Tax-Favored Retirement Plans
Chapter 9. Unfunded NonQualified Retirement Plans
Chapter 10. Funded NonQualified Retirement Plans
Chapter 11. Employee Stock Options
Chapter 12. Retiring Partners and Sole Proprietors
Chapter 13. Disability Benefits
Chapter 14. U.S. Military Retirement and Disability Benefits
Chapter 15. Employer-Provided Insurance, Etc.
Chapter 16. Personally Purchased Retirement Annuities
Chapter 17. Social Security Benefits
Chapter 18. Chronic Illness Costs and Insurance
Chapter 19. Elderly and Disabled Tax Relief
Chapter 20. Estate and Gift Taxes on Retirement Benefits
Chapter 21. Retirement Benefits of Foreign Retirees
Applicability of Community Property Laws
Charitable Beneficiary Designations
IRA Tax Developments – Part 1
IRA Tax Developments – Part 2
Required Minimum Distributions for Plans and IRAs
Long-Term Care, Residential Retirement Communities
Transfers to Roth IRAs: Part 1
Transfers to Roth IRAs: Part 2
Receipt of Property or Options from Employer
Tax-Favored Employer Retirement Plans: Part 1
Tax-Favored Employer Retirement Plans: Part 2
Retiree Rollovers to IRAs and Other Plans
Spouses and Other Beneficiaries: Part 1
Spouses and Other Beneficiaries: Part 2
U.S. Military and Survivor Benefits
Social Security Tax Developments
Penalty on Early Distributions from an IRA, Plan, or Annuity
Nonqualified Employer Retirement Plans: Part 1
Nonqualified Employer Retirement Plans: Part 2
Hurricane Disaster Tax Relief for IRAs and Qualified Plans
Federal Restrictions on State Income Taxes
Estate Tax on Retirement Benefits
Personally Purchased Annuities
Miscellaneous Developments Affecting Retirees
Tax Avoidable on Charitable Beneficiary Designation for IRA or Qualified Plan. – Generally, neither a retiree’s estate nor a tax-exempt charity is subject to income tax on amounts the charity receives as a beneficiary of the retiree’s qualified retirement plan or IRA. However, the retiree must carefully structure the charity’s beneficial interest in order to obtain a charitable deduction for estate tax purposes. (Ltr. Rul. 200425027.) See Chapters 2, 4, and 5 of the treatise for discussions of charitable beneficiary designations.
IRA Distributions Paid Directly to Charities. – A retiree age 70 ½ or older may exclude from taxable income certain distributions paid by his or her IRA directly to a qualified charity. The amount of excludable charitable distributions for a given year is limited to the lesser of (1) $100,000, (2) the amount of the payments to the charity, or (3) the portion of IRA funds otherwise deemed potentially taxable. (I.R.C. § 408(d)(8); Notice 2007-7, 2007-5 I.R.B. 395.) See Chapter 5 of the treatise for a discussion of the taxation of IRAs.
Tax Planning Ideas For Retirees Click Here
Recent Tax Developments Affecting Retirees Click Here
Related Articles Published by the Author of the Treatise
Retiree Tax Planning with Qualified Longevity Annuity Contracts, TAX ADVISER, Nov. 2014, at p. 822.
Rollovers to Roth IRAs Are Complicated by Substance-Over-Form Doctrines [particularly the step transaction doctrine], TAXES, Sep. 2015, at page 43.
Controlling and Minimizing the Taxation of Disability Benefits, TAX LAWYER, Spring 2007, at p. 725.
Tax Issues Complicate the Costs of Chronic Illness and Long-Term Care Insurance, JOURNAL OF TAXATION,
Apr. 2007, at p. 216.
Planning Lump Sum Distributions of Employer Stock from Stock Bonus Plans and ESOPs, TAXES, Nov. 2015, at p. 49.
Retirement Plans, IRAs, and Annuities: Avoiding the Early Distribution Penalty, TAX ADVISER, Apr. 2011, at p. 254.
Required Spousal Annuities Under Qualified Retirement Plans, TAX NOTES, Nov. 19, 2007, at p. 783.
Retirement Planning for Unfunded Deferred Pay Under Section 409A, PRACTICAL TAX STRATEGIES, July 2008, at p. 14.
Maximizing Medical Deductions for Residents of Retirement Communities, JOURNAL OF TAXATION, Jan. 2007, at p. 50.
Deferred Compensation: The Proposed Sec. 457(f) Regulations and Sec. 409A, TAX ADVISER, June 2017, at p. 422.
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