Congress has been working on, and at this time the President has signed into law a massive economic stimulus package called the CARES Act. The Act is a $2 trillion package that includes some changes to the tax code that affect charitable giving, most notably relaxing the adjusted gross income (AGI) deductibility limits for 2020, and suspension of the required minimum distribution (RMD) requirements this year.
We have thoroughly reviewed the bill, and have published a blog post with our analysis of the bill.
We will continue to monitor the stimulus bill and will publish updates as circumstances warrant. In the meantime, if you have any questions, please contact Client Services at 888-474-2252 or [email protected].
All the best,
Your Partner In Planned Giving Success.