IRA rollover administrator letter
An important gift opportunity for alumni, parents, and friends age 70 1/2 or older
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, signed into law on December 17, 2010 by President Obama, allows individuals age of 70 ½ and older to make charitable distributions of up to $100,000 from a traditional or Roth IRA directly to charity, such as Middlebury College.
The extension is effective for 2010 and 2011. A special provision allows interested donors to make distributions that will be treated as made in 2010 if completed by January 31, 2011.