Southeast Missouri University Foundation

Another month has gone by and many questions still remain for charities who meet critical needs in this country as well as the millions of Americans who support these charities.  First of all, the Senate is expected to vote on “tax extender” legislation this week.  Passed bythe House in December, this legislation contains a one year extension of the IRA Charitable Rollover which expired in December 2009.  Secondly, draft estate tax legislation is expected in the Senate that will re-impose the 2009 estate tax retroactively to the start of 2010 but that timing for such legislation remains uncertain. Finally, of concern for nonprofits and philanthropists alike, the budget President Obama submitted to Congress recently includes a limitation on tax deductions for charitable donations made by families earning more than $250,000 a year was included again this year.  Updates on legislative activity can be found at www.pppnet.org.  Also included on that website are suggestions as to how to make a difference by contacting your Congressmen and Congresswomen!  We can all make a difference by making our voices heard!!  – Trudy