Current IRS Discount Rates for May 2013
Last Updated on Monday, 22 April 2013 13:41 | 
| Month | Rate | |
| Current Month | May 2013 | 1.2% |
| 1st Prior Month | April 2013 | 1.4% |
| 2nd Prior Month | March 2013 | 1.4% |
The IRS has released the Applicable Federal Rate for the month of May 2013. Each month the Service surveys hundreds of interest rates for various financial instruments and publishes the rate that is applicable for charitable deduction calculations. The rate for May is 1.2%.
Rates Effective January 1, 2012 To Remain the Same
Last Updated on Thursday, 18 April 2013 17:56 |
Approved by the American Council on Gift Annuities on April 15, 2013
Information last updated April 15, 2013
IMMEDIATE AND DEFERRED GIFT ANNUITY RATES WILL REMAIN THE SAME
The American Council on Gift Annuities (ACGA) board of directors held its semi-annual meeting on April 15. The board conducted its regular review of the assumptions underlying the rates schedule for charitable gift annuities and voted to make no changes to the suggested maximum rates that originally became effective January 1, 2012. The current rate schedule will remain in effect until further notice. Click here for the rates effective January 1, 2012.
ACGA's Statement Regarding the House’s Tax Reform Bill
Last Updated on Monday, 08 April 2013 14:50 |
ACGA requests that the House’s tax reform bill:
- Make permanent the IRA/charitable rollover for direct transfers to public charities (expiring this year).
- Expand the IRA/charitable rollover to allow a rollover for charitable life-income plans for donors.
- Provide an option for donors to make charitable contributions by April 15 and elect to deduct them on the prior year’s income tax return (due by April 15 in the year that the election is made).
- For all new charitable remainder unitrusts and annuity trusts, decrease the minimum annual payment to three percent.
Click here to read the full statement.
The Terry L. Simmons Philanthropic Endowment Fund will provide scholarships to worthy individuals who would otherwise be unable to attend the Conference on Gift Annuities.