2012 Tax Act, the NCPA and You

Even though Congress and the President raised taxes substantially as a result of the Fiscal Cliff negotiations there is at least one strategy available that can help you avoid taxes and help the National Center for Policy Analysis (NCPA) continue to provide free-market solutions to government control and excessive tax regulations.

While the new law will impose higher taxes on most Americans, there are ways to make sure your money goes where you want it to go instead of fueling the government's tax-and-spend policies. Indeed, if you are age 70 1/2 or older, you are allowed tax-free distributions from an IRA to a tax-exempt organization like the NCPA, up to a maximum of $100,000 per taxpayer through December 31, 2013.

In addition, individuals can make IRA distributions to a tax-exempt organization in January 2013 as if these distributions were made on December 31, 2012. As a result, any contribution made in January 2013 will not count against the 2013 limit. So the opportunity may exist for two separate deductions!

The funds must be distributed directly from your IRA custodian to the NCPA.

If you're interested in this tax avoidance strategy and in helping the NCPA, please call Eileen Resnik at (972) 386-6272 or contact her by email at eileen.resnik@ncpa.org.

Thanks for your support and we wish you the best in 2013!