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Conrad Teitell Speaks to the Committee on Ways and Means on Behalf of ACGA

On Thursday, February 14, 2013, Conrad Teitell, volunteer legal council for the ACGA, spoke to the Committee on Ways and Means regarding tax reform and charitable contributions including the ACGA's proposed All-American Charitable IRA Rollover Act.  Mr. Teitell addressed four points including asking Congress to: (1) make permanent the provision that allows direct tax-free distributions from IRAs to charity (the so-called IRA/charitable rollover); (2) expand the IRA rollover to include transfers to fund a charitable life-income plan for the donor; (3) eliminate the charitable deduction as one of the deductions subject to the reinstated overall limitation on itemized deductions (the Pease provision); and (4) not place a cap or floor on the charitable deduction - or impose a lower tax rate at which contributions may be deducted.  Mr. Teitell summed up by reporting that decreased support from federal, state and local governments and increased burdens on charities make this the time to enact legislation that increases - not decreases - the incentive to make charitable gifts. Charities need the funds now to do their vital work.  To read Mr. Teitell's entire statement to the the committee, click here.