News from the Hill January 10, 2013 | back to index
Thanks to the recently signed American Taxpayer Relief Act, people ages 70½ and up may withdraw money from their Individual Retirement Accounts and give it to Andover Newton without paying any tax! The law covers 2012 retroactively, but the big news is that you have until Feb. 1, 2013, to take action and have it apply to your 2012 return.
So don’t delay! If you were meaning to give a gift from your IRA to Andover Newton, do it today and ensure that the school gets the full amount, tax-free!