Qualified Charitable Distributions extended to 12/31/09

[jevd]

Section 205 of Title II of the bailout bill extends Qualified Charitable Distributions from IRAs at age 70 1/2 to 12/31/2009.

That is, if it passes.

Moved to correct forum

[GMK]

Thanks, jevd.

That's useful information for those of us who read these boards.

... sorry, but I can't help wondering what other non-bailout items are being tacked on to this bill. Looks like I'll have to do some reading if I want to find out.

[jevd]

Thanks, jevd.

That's useful information for those of us who read these boards.

... sorry, but I can't help wondering what other non-bailout items are being tacked on to this bill. Looks like I'll have to do some reading if I want to find out.

With over a 100 Billion oops 100 Million in pork there'll be one heck of a BBQ if passed.

what's 900 million when your talking these numbers. Its only a rounding error!!!

[GMK]

Whew! What a relief.

They remembered to include the excemption from excise tax for certain wooden arrows designed for use by children (sec. 503 of the senate bill).

That'll certainly help unclog the financial aorta and get credit flowing again.

...OK. I'll go back to my reading and shut up about it.

[jevd]

Whew! What a relief.

They remembered to include the excemption from excise tax for certain wooden arrows designed for use by children (sec. 503 of the senate bill).

That'll certainly help unclog the financial aorta and get credit flowing again.

...OK. I'll go back to my reading and shut up about it.

I'm glad to see someone else is reading the fine print. I'm retiring in 10 years. I just hope the dust settles by then or I'll be standing in the breead lines with everyone else and my grand kids will be cursing us all for letting this happen.

[GMK]

I was hoping it would be 10 years at the most until retirement,

but now it looks like I'll be working till the sun goes down

... (if there are jobs).

Meanwhile, we enjoy everything we can each day.

[jevd]

Oh Yes,

and who was it that said "Don't store your treasures on earth."?

Oh yes. It was the Lord.

Enjoy the day and count your blessings.

[jevd]

Section 205 of Title II of the bailout bill extends Qualified Charitable Distributions from IRAs at age 70 1/2 to 12/31/2009.

That is, if it passes.

Moved to correct forum

The Bill passed within the last hour.

Time to Amend IRA distribution forms again.

[John G]

Message from one of the moderators:

These are trying times. A lot of folks have seen assets diminish, and the erratic performance of our political leadership stimulates a lot of additional anger.

Let's try an keep a sense of perspective and not taint this message board with un-informed commentary. The credit seizure crisis is fast moving, and I think it is important to distiguish between factual material and ienundo

For example, lots of folks are trashing "wooden arrow pork". Here is my understanding. In prior tax legistation, Congress missed the distinction between adult ammo and hunting arrows with wooden target arrows for kids. Wooden arrows got unintentionally hit with a higher tax. Some lawmakers have tried to attach a technical correction to a number of bills... and it finally made it here. {It looks silly in this bill, I concede the point. Who knows if there is some rationale behind the "rum" components of the bill.}

Unfortunately, our beloved media read two sentences and made a target (pun intended) of "wood arrows" for kids.

I believe another part of the so-called pork number pushing the AMT rules further into the future - which I understand is an annual exercise because no one wants to make it permanent.

This isn't Yahooland. Let's remember to hold commentary posted here to a higher standard than those of CNN, MSNBC, CNBC, FOX or the bloggers.

[GMK]

Agreed.

Sorry for my blow up, which for the record resulted from reading the bill. I heard and read about it in the media later.

I appreciate benefitslink and will remember to keep my postings germane to the topics of these boards.

[Guest Sieve]

GMK -- I started reading the Act yesterday, but felt no need to express disdain because you'd already done so . . .

Actually, I only skimmed it, but did see a bicycle transportation fringe added to IRC Section 132(f). Has anyone found any other pension or benefits provisions in the Act? Apparently there's some real mental health parity (which this board is leading me towards needing!! -- ), but I haven't come across it yet.