Time is limited to decide whether to use lookback provisions

01/13/2013 | Nerd's Eye View blog

The American Taxpayer Relief Act of 2012 included the retroactive reinstatement of rules allowing "Qualified Charitable Distributions" from an IRA to a charity with favorable tax consequences for 2012. While the applicability of these lookback rules may be limited, writes Michael Kitces, they do offer useful planning scenarios for some client situations. Also, he notes, the time window is short to decide whether to take advantage of the provisions.

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