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I. Introduction
II. Retirement Plan Distribution and Savings Issues
A. Rollover of Retirement Accounts to Inherited IRA by
Non-Spouse
Beneficiaries
B. Direct Distributions to Charities from IRAs
C. Direct Rollovers from Retirement Plans to Roth IRAs
D. Direct Deposit of IRS Refunds into IRA Accounts
E. Provisions of Prior Law Made Permanent – Scheduled 2010 Sunset
Eliminated
F. Liberalized 401 (k), etc. Hardship Withdrawal Rules Forthcoming
G. Liberalized Plan Withdrawal Rules for Military, Certain Other
Personnel
III. Charitable Deduction Incentive Provisions
A. IRA Charitable Rollover Provisions
B. Charitable Contributions of Property by S Corporations
C. Charitable Deduction for Contribution of Food Inventories
D. Charitable Deduction for Contribution of Book Inventories
E. Increased Deductions for Qualified Conservation Contributions
IV. Charitable Deduction Limitation Provisions
A. New Record-Keeping and Substantiation Requirements
B. Limitations on the Deduction of Clothing and Household Items
C. Limitations on Charitable Gifts of Fractional Interests in
Tangible Property
D. Recapture if Property is Not Used for Exempt Purposes
E. Increased Penalties on Taxpayers and Appraisers for Valuation
Misstatements
F. Limitations on Deductions for Easements in Registered Historic
Districts
G. New Filing Requirements for Small Exempt Organizations
H. Private Foundations – Increase in Penalty Taxes
I. Private Foundations: Expanded Tax Base for Net Investment Income
J. Increased Penalties in Connection with the Filing of
Split-Interest
K. Increased Focus on Donor-Advised Funds
L. New Law “Stuffs” the Taxidermy Deduction
V. New Rules Address the Ownership of Life Insurance Policies and Taxation
of the
Policy Proceeds
A. Company-Owned Policies on the Lives of Employees
B. New Reporting Requirements for Charities Sharing an Interest in
an
Insurance Contract
REFERENCES
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