Since the passing of the SECURE Act in 2019, lingering questions remain around its implementation. Earlier this year, the IRS proposed regulations to guide the interpretation of the SECURE Act, and when finalized, these regulations could affect the decisions you make in your retirement and estate planning, particularly regarding your individual retirement accounts (IRAs). A […]
The Consolidated Appropriations Act, 2021 has extended the benefits for charitable contributions made available through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion federal relief package signed into law on March 27, 2020. The following benefits are extended for the 2021 tax year: Expansion of the universal charitable deduction for cash gifts – […]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion federal relief package signed into law on March 27, 2020 is designed to help individuals, businesses, and nonprofit organizations facing economic hardship during the coronavirus (COVID-19) pandemic. The CARES Act recognizes the important role that nonprofit organizations like Washington University are playing in […]
The Setting Every Community Up For Retirement Enhancement Act (SECURE Act) that was passed into law in December 2019 created several significant implications for charitable giving: Increases the Age for Required Minimum Distributions (RMDs) to Age 72The SECURE Act increased the age requirement for RMDs from 70 ½ years of age to 72 (The CARES Act suspended […]